Mona, a San Francisco-based fintech platform focused on small business capital access and financial coaching, has raised $3.5 million in an oversubscribed funding round led by Sandberg Bernthal Venture Partners. Alumni Ventures and Wisdom Ventures participated, alongside angel investors including former Google CEO Eric Schmidt. Mona also counts the Mastercard Strive USA Innovation Fund as a backer.
The company provides an AI-powered platform that helps small business owners navigate loans, grants and government funding programs. Entrepreneurs complete a common application, which Mona uses to identify relevant funding opportunities, streamline applications and provide tailored guidance. The platform combines AI-based capital navigation with human financial coaching.
Mona was founded by Andrew Leon Hanna and Anny Dow. The company said it has supported thousands of small businesses and helped entrepreneurs secure millions of dollars in affordable capital, with activity across cities including Chicago, Detroit, Jacksonville, New York City and San Francisco.
Mona plans to use the new capital to expand its AI platform and reach more small businesses. Through its partnership with Mastercard Strive USA, the company is also developing and deploying financial health coaching tools through community development financial institutions, business support organizations and other small business service providers.
