AI Startup Mona Raises $3.5M in Funding Round

Who Invested in Mona’s Funding Round?

The round was led by Sandberg Bernthal Venture Partners.

Other participants included:

• Alumni Ventures
• Wisdom Ventures
• Angel investors, including former Google CEO Eric Schmidt
• Other investors

Mona is also backed by the Mastercard Strive USA Innovation Fund.

Why the Funding Matters

Mona plans to use the funding to expand its operations and business reach.

The company is also working with Mastercard Strive USA and small business support organizations to expand access to its platform.

Who founded Mona?

Mona was founded by Andrew Leon Hanna and Anny Dow and is headquartered in San Francisco, California.

The company focuses on helping small businesses access capital and financial guidance through AI.

“Small businesses are the engine of the American economy, but there’s a huge market gap in the tools, guidance, and resources available to them,” said Gareth Schweitzer, Partner at Sandberg Bernthal Venture Partners.

“Small businesses create the majority of net new jobs and are the heartbeat's of our communities. Yet they are expected to make high stakes financial decisions with limited support,” said Hanna. By pairing AI with human expertise, we are building toward a world where every entrepreneur can have a trusted financial coach in their corner to help them grow.”

Market and Business Growth

Mona has already supported thousands of small businesses and helped entrepreneurs secure millions of dollars in affordable capital.

The company has seen early traction in Chicago, Detroit, Jacksonville, New York City and San Francisco.

Mona was also recently named to Fast Company’s World Changing Ideas List.