Mona, an artificial intelligence platform for small business capital access and financial coaching, has closed an oversubscribed US$3.5 million funding round. The investment was led by Sandberg Bernthal Venture Partners, with participation from Alumni Ventures, Wisdom Ventures, and angel investors including former Google CEO Eric Schmidt. Mona is also backed by the Mastercard Strive USA Innovation Fund and will use the capital to expand its platform and coaching support.
Addressing a Fragmented Capital Market
Small business owners often operate without the dedicated financial teams or advisors available to larger companies, leaving them to navigate a fragmented ecosystem of lenders, government programs, grants, and other capital sources alone. Mona brings that fragmented market into one place through a common application that surfaces relevant opportunities and streamlines submissions. The platform also tailors guidance to each business, reducing the complexity of finding and applying for affordable financing.
AI Paired With Human Coaching
Recently named to Fast Company's World Changing Ideas List, Mona pairs AI with human coaching to provide ongoing support beyond a one-time funding search. Entrepreneurs can return to the platform as new questions and opportunities arise, while the system improves by learning more about their businesses. This combination of automated discovery and personalized guidance helps owners make informed financial decisions over time.
Investor Confidence in the Platform
Gareth Schweitzer, Partner at Sandberg Bernthal Venture Partners, said small businesses are the engine of the American economy but face a significant market gap in tools, guidance, and resources. He noted that Mona is closing that gap by using AI to help owners find capital opportunities, apply for financing, and access high-quality coaching. The participation of institutional investors and experienced angels reflects growing confidence in AI platforms designed for small business financial health.
Founders Inspired by Immigrant Small Business Stories
Andrew Leon Hanna and Anny Dow founded Mona after meeting at Stanford, inspired by their families' histories as immigrant small business owners. Hanna said small businesses create the majority of net new jobs and are the heartbeats of communities, yet they are expected to make high-stakes financial decisions with limited support. By pairing AI with human expertise, the company is working toward a world where every entrepreneur can have a trusted financial coach in their corner.
Mastercard Strive USA Partnership
Mona is also partnering with Mastercard Strive USA, with support from the Mastercard Strive USA Innovation Fund. Through this collaboration, Mona will work with small business support organizations to expand its reach and connect more entrepreneurs with capital and coaching. Jonathan Fantini-Porter, Senior Vice President of Americas at the Mastercard Center for Inclusive Growth, said combining new technology with the trust of community organizations can improve financial health by increasing cash flow, reducing volatility, and expanding access to affordable capital.
Early Traction Across US Cities
Mona has already supported thousands of small businesses and helped entrepreneurs secure millions of dollars in affordable capital. The company reports early traction in Chicago, Detroit, Jacksonville, New York City, and San Francisco, indicating demand across diverse urban markets. Its model is gaining attention as a practical tool for owners who lack the resources to evaluate multiple financing options independently.
The new funding positions Mona to deepen its impact on small business capital access and financial coaching at a time when many entrepreneurs still lack dedicated support. With backing from institutional investors, notable angels, and the Mastercard Strive USA Innovation Fund, the company is expanding a platform that combines automated discovery with human expertise. As small businesses continue to drive job creation and local economic growth, Mona's approach offers a practical model for closing long-standing gaps in affordable capital.