Minka raises US$24m to expand

Minka, a Fintech startup located in Colombia, has announced that it has raised $24 million in a fundraising round headed by Tiger Global and Kaszek.

Minka wants to use the new capital to continue modernizing clearinghouses and central bank infrastructure, as well as to expand the network by offering a comprehensive self-service platform for publishing and moving money to organizations.

Minka is a payment network that allows last-mile infrastructure, such as banks, clearinghouses, and businesses, to post and trade balances.

To facilitate the movement of complex money flows, the network was created to connect separate historical systems using blockchain concepts and new APIs. This opens up a virtually limitless number of applications and allows money to travel quickly, safely, and without the need for reconciliation.