Mona Raises $3.5M to Expand Its AI Platform for Small Business Capital Access and Financial Coaching

SAN FRANCISCO--(BUSINESS WIRE)--Mona today announced an oversubscribed $3.5M round to expand its AI platform for small business capital access and financial coaching. The round was led by Sandberg Bernthal Venture Partners, with participation from Alumni Ventures, Wisdom Ventures, angels including former Google CEO Eric Schmidt, and others. Mona is also backed by the Mastercard Strive USA Innovation Fund.

Small business owners navigate a fragmented ecosystem of lenders, government programs, grants, and other capital sources – without the financial teams or advisors available to larger companies. Mona brings that fragmented market into one place through its AI platform. Entrepreneurs complete a common application, which Mona uses to surface relevant opportunities, streamline applications, and tailor guidance.

Mona – recently named to Fast Company’s World Changing Ideas List – pairs AI with human coaching, offering ongoing support beyond a one-time funding search. Entrepreneurs turn to Mona as questions and opportunities arise, while the platform improves as it learns about their businesses. Mona has already supported thousands of small businesses and helped entrepreneurs secure millions in affordable capital, with early traction in Chicago, Detroit, Jacksonville, New York City, and San Francisco.

“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. “Mona is closing that gap by leveraging AI to help small business owners find capital opportunities, apply for financing, and access high-quality coaching.”

Mona was founded by Andrew Leon Hanna and Anny Dow, who met at Stanford and whose families’ stories as immigrant small business owners inspired the company’s mission.

“Small businesses create the majority of net new jobs and are the heartbeats 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’re building toward a world where every entrepreneur can have a trusted financial coach in their corner to help them grow.”

Mona is also partnering with Mastercard Strive USA, with support from the Mastercard Strive USA Innovation Fund. Through the partnership, Mona will collaborate with small business support organizations to expand its reach.

“As AI continues to disrupt industries, there is a huge opportunity to make sure small businesses are not left behind and receive the support they need to grow,” said Jonathan Fantini-Porter, Senior Vice President of Americas at the Mastercard Center for Inclusive Growth.

“By combining new technology with the reach and trust of community organizations, Mona is helping improve small business financial health by increasing their cash flow, reducing financial volatility, and expanding access to affordable capital so small business owners can focus on keeping their small business dreams going.”

About Mona:

Mona is an AI platform that helps small businesses across the U.S. access capital and financial coaching. Learn more at trymona.com.