Meet Management of Information Systems and Digital Innovation (MISDI) Alum, Jose and Salomon. Find out how these co-founders started their company whilst on the MISDI programme and their journey in the fin-tech scene so far.
Welcome to our Alumni, Jose and Salomon We are delighted to speak with you.
Programme and graduation year: MSc Management of Information Systems and Digital Innovation (MISDI) 2020.
Company name: Mono
How did your time at LSE (Department of Management) contribute to your success/ achieving this incredible feat?
We started Mono whilst studying the MISDI programme. The London fin-tech scene, plus the incredible LSE alumni network was critical for us to build a solution that adds value to start-ups and entrepreneurs in Latin America. Among Mono’s angel investors are LSE alumni, which were introduced to us by Professor Sorensen. During the Lent Term we worked every day at the cave in LSE Generate, and the team were super helpful with introductions, feedback and, of course, coffee ha-ha.
Professor Sorensen was particularly helpful, not only did he introduce us to alumni, he was also very involved at the beginning when we were building the company.
What inspired you to set up your business (tell us a bit about your career journey)?
As entrepreneurs, we were inspired by the frustration we experienced in Latin America, especially the friction of opening a bank account for start-ups and SMEs. As well as having to use an interface that seems to be from Windows 95, the whole experience seemed to be stuck in the 90s. Therefore, our mission is for entrepreneurs to be able to focus on their business, sales and learning new skills, not their banking operations, which is the very reason we built an autopilot bank.
We were lucky enough to get selected for YCombinator W22. Spending time in San Francisco, learning from other founders and the whole YC ecosystem has been life changing. And it all begin at the LSE!
What are your plans for the future of Mono?
We have created a full bank account for start-ups, increasing users every month. We launched our application programming interfaces (APIs) a few months ago and the focus now is to automate these processes for companies that need to make and receive multiple bank transfers every day. Our focus is on revenue and to continue building something people want and need.
Do you have any advice for current students wishing to set up their own businesses?
Make the best out of your LSE and London experience. LSE is full of opportunities, especially the societies, socials, and alumni that you can learn from. If you’re looking for them, opportunities are always around the corner! London is also an amazing city to launch a start-up. No one is going to knock on your door with investment or an idea for a start-up, you have to be proactive.
Don’t settle for that consultancy job (nothing against you, my friends!) Aim higher. Be brave enough to start something new!
Get involved with our alumni, volunteering opportunities and connect with the Department of Management.
