Minka

Minka operates as a B2B fintech company, providing foundational payment infrastructure technology for Latin America and other emerging markets. Established in 2018 by co-founders Domagoj Rozic, Paola Sánchez, and Tomislav Biscan, the Bogota-based firm focuses on modernizing financial systems to enable real-time money movement. The inspiration for Minka arose from CEO Domagoj Rozic's personal experience after moving to Colombia, where he observed the inefficiency of local money transfers compared to the seamless flow of information globally. This led to the creation of a new payment network designed for cash-heavy economies, aiming to make sending money as easy as sending an instant message.

The company's core business is providing an open network infrastructure that allows financial institutions, clearinghouses, and fintechs to connect their legacy systems via APIs and blockchain-inspired concepts. This enables clients to process transactions instantly and at a low cost without the need for complex reconciliations. Minka's technology serves as the rails for various financial products, including real-time payment systems, mobile wallets, and online tax collection. Its business model is a transactional SaaS, generating revenue based on the volume of transactions processed through its platform. A significant achievement for Minka was its partnership with ACH Colombia to develop the Transfiya project, one of the largest open banking initiatives in the region, which connected 80% of the country's bank accounts and now handles millions of transactions.

Minka offers several key products, including Ledger as a Service and an Alias Directory. Minka Ledger is a microservice that allows organizations to publish and move balances on the network, while Minka Bridge enables a single point of integration to exchange balances with numerous institutions. The platform is designed to be highly scalable, supporting up to 10,000 transactions per second. Having established a strong presence in Colombia, Minka is expanding its operations to other regions with similar financial infrastructure challenges, such as East and Southern Africa, with plans to partner with local financial entities to adapt its solutions to regional needs.

Keywords: payment infrastructure, fintech, real-time payments, open banking, BaaS, financial technology, Latin America, Colombia, B2B payments, cross-border payments, payment network, clearinghouse solutions, digital currency, mobile wallets, transaction processing, API-based payments, connected ledgers, financial inclusion, emerging markets, Domagoj Rozic