minu, the leading employee wellness platform in Mexico, raises us$30 million to improve the financial health of millions of workers

• minu closes an us$30 million Series B equity round, with new investors Next Billion Capital Partners, Flourish Ventures, Promotora Impact Ventures, Endeavor Catalyst, Clocktower Technologies, Working Capital Fund and Fluent Ventures. Existing investors QED, FinTech Collective, Redwood Ventures, Salkantay and Nazca also participated in the round.
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• minu currently works with more than 2,000 employers and offers its benefits platform to 1 million users.
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• Company is about to reach profitability.

‍Mexico City, November 19, 2024. – minu, the leading employee wellness platform in Mexico, announced that it has raised us$30 million in a new equity funding round. The Series B round was led by QED, with new investors Next Billion Capital Partners, Flourish Ventures, Promotora Impact Ventures, Endeavor Catalyst, Clocktower Technologies and Working Capital Fund, alongside participation from existing investors FinTech Collective, Redwood Ventures, Salkantay and Nazca.

The funds will be used to solidify the regional footprint in Mexico and to continue strengthening its wellness offering across financial, physical and mental health. This round brings the total amount raised to date to us$47 million.

minu offers an all-in one, modular and gamified platform with more than 50 wellness benefits including earned wage access, high-return savings, financial education, grocery and fuel neo-voucher cards, discounts, online access to doctors, therapists and nutritionists, and a variety of insurances and assistances. For HR leaders, the solution reduces monthly employee turnover by 33 percent, offers reporting and analytics and helps with compliance of federal regulation to reduce employee stress.

“This raise involving predominantly impact funds speaks to the strong and steadfast progress in our mission to improve the financial health of millions of workers. This capital addition comes when we are about to reach profitability, ensuring our long term work in our mission”, said Nima Pourshasb, CEO and co-founder of minu.

The company works with more than 2,000 enterprises including the country's largest department stores (Liverpool, Coppel), beer manufacturer (Grupo Modelo), gym chains (Smartfit, Sportsworld) and car rental agencies (Avis, Hertz, Dollar) and top HR outsourcing companies (Adecco, Manpower). It recently launched a partnership with Citibanamex where minu is integrated into the bank's retail app to provide earned wage access to its 5 million payroll clients.

“We are incredibly excited about minu’s remarkable growth. On average, they are closing 7-8 new employers each day, which is proof of the high-impact value they deliver to both employers and employees,” said Next Billion Capital Partners Managing Partner Ken Toyoda, who will be joining minu´s Board as an observer.

“Since leading minu’s seed round in 2019, we have consistently been impressed by the company's leadership and continued traction to positively impact the financial lives of millions of hard-working Mexicans,” said QED Investors Partner and minu Board member, Bill Cilluffo. “minu is strongly positioned as the leading employee wellness provider in Mexico, and we’re excited to double down on the team as they capitalize on market tailwinds driven by nearshoring and new labor regulations.”

‍About minu

‍minu is the leading employee wellness platform, pioneering earned wage access benefits in Mexico, with the goal of improving workers' financial health. minu partners with over 2,000 enterprises including Grupo Modelo, Liverpool, Coppel, Avis, Smart Fit, Adecco, Manpower, Citibanamex, and Capgemini. Established in 2019, minu's investors include QED, FinTech Collective, Next Billion Ventures, Flourish Ventures, Promotora Impact Ventures, Endeavor Catalyst, Working Capital Fund, Clocktower Technologies, FJ Labs, Nazca, XYZ Ventures and Village Global, a social impact venture fund backed by Bill Gates and Jeff Bezos, among others.