Minu

minu operates an employee wellness and benefits platform in Mexico, positioning itself as a pioneer of earned wage access ("Salario On-Demand") in the country. Employers manage benefit plans through a web platform, and employees access them through a mobile app available on iOS, Android and Huawei App Gallery. The catalogue spans more than 50 benefits, including on-demand access to already-earned salary, a savings product (minu Dreams / Caja de Ahorro) with advertised annual returns from 8% and up to 12%, loans at an 18% interest rate, grocery and fuel voucher cards (electronic wallets marketed through Vale Total, S.A. de C.V.), a discount club, bill payment and airtime top-ups, telemedicine with general practitioners as well as nutrition, psychology and sexual health specialists, insurance and assistance coverages, fitness and meditation content, surveys and internal communications, and a financial education program.

The product is packaged into a "Starter" plan (implementation in 24 hours, no payroll integration required), a "Total" plan with secure integration, and a modular option for companies with more than 300 employees. The platform is described as all-in-one, modular and gamified, with employees earning "stars" through good habits that improve their benefit conditions and fund causes such as tree planting and education donations. minu also provides HR leaders with reporting and analytics and support for compliance with Mexican workplace regulation NOM-035 on psychosocial risk. The company states it holds ISO 27001 certification. minu absorbed the grocery and fuel voucher benefit of Plerk, and existing Plerk cards remain usable at more than 5,000 affiliated merchants.

The operating entity is Minu Servicios, S.A.P.I. de C.V., listed at Av. Paseo de la Reforma No. 180, Juárez, Cuauhtémoc, Mexico City.

Founding story

The founding team is identified as Nima Pourshasb (CEO), Paolo Rizzi (CTO) and Rafael Niell (COO), who built the company around the goal of improving Mexican workers' financial health, starting with earned wage access.

Business model

B2B2C: minu sells benefit plans to employers, which activate a selection of benefits for their workforce; employees consume the benefits through minu's mobile app. Plans are quoted rather than publicly priced, with tiered (Starter, Total) and modular packaging, the modular option targeted at companies with over 300 employees.

Employer-paid benefit plans quoted per company, complemented by financial products delivered to employees such as earned wage access, savings with stated annual returns, loans at an 18% interest rate, and grocery and fuel voucher cards marketed through Vale Total, S.A. de C.V.

Traction

More than 2,000 employer clients and over 1 million employees on the platform, with named customers including Liverpool, Coppel, Grupo Modelo, Smart Fit, Sportsworld, Avis, Hertz, Dollar, Adecco, Manpower, Citibanamex and Capgemini. The Android app has over 100,000 downloads and a 3.4-star average across roughly 6,050 reviews. The company reports 60% benefit adoption among employees, a 20% reduction in talent turnover on its website and a 33% reduction in monthly turnover in its funding announcement, and said in November 2024 that it was about to reach profitability.

Latest developments

In November 2024 minu closed a $30M Series B and stated it was nearing profitability, with proceeds directed at strengthening its position in Mexico and expanding financial, physical and mental wellness products. It also launched a partnership integrating minu into Citibanamex's retail app to offer earned wage access to the bank's 5 million payroll clients. Ken Toyoda of Next Billion Capital Partners joined the board as an observer.