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David Agmon is a Mexican businessman, graduated with a Bachelor’s degree in Marketing from the Universidad Anáhuac, with a master’s degree in Banking and Financial Markets. He is the founder and Co-CEO (Chief Executive Officer) of Monific, the first FinTech specialized in the tourism sector in Mexico.
Today, David Agmon has 18 years of experience and more than 10 companies created. Over time, he has formed in himself a creative spirit and a human warmth that allows him to identify people’s needs, observe, analyze possible solutions and carry out his projects with the sole purpose of making people entrepreneurial. He has always sought to generate financial inclusion in Mexico, achieve equity and human relations, with the philosophy: «Unity is strength.»
Please tell us a little about Monific and how the FinTech started to be.
Monific is the first real estate crowdfunding specialized in the tourism sector in Mexico; where it is possible to invest in tourist properties from $1,000 MXN and receive estimated annual returns of 12% to 16% through the occupation and capital gains of the property; In addition to having different options to generate other income through the platform, through a referral and hosting program.
Monific was born in 2018, out of the need for financial inclusion and the lack of accessibility to real estate investments in Mexico. We merge technology, real estate and tourism into a platform that offers investment opportunities accessible to all.
How did the idea come about?
Ted Senate, founder of Monific, participated in the Real Estate Commercialization and Marketing course at ITAM, where he found his passion for real estate investments democratized through technology, he also noted that the lack of financial education in Mexico has been an obstacle to reach investors, in addition to the fact that the large finance companies dominated this area and their investment amounts were very high. With these ideas in mind, he set out to create a platform where the amounts to invest would be much more accessible and investments could be monitored in real time, from anywhere and through technology.
You are the current Co-CEO of Monific How does the company fit in the Global FinTech ecosystem?
There are currently few regulated FinTech in Mexico, only 5 focused on the real estate sector and only Monific focused on tourist properties. Monific’s objective is to create investment opportunities in two of the most consolidated markets in the country, the real estate sector and the tourism sector.
Can you imagine connecting with Monific? It’s possible! Enter the global startup platform.
What is Monific ‘s value proposition?
Monific creates the first collaborative economy community in the real estate industry specialized in the tourism sector with accessible investment options, where anyone can become a member of a hotel and receive income from their occupancy. The platform unites thousands of investors with hotel owners and developers, generating investment and liquidity opportunities. Monific funds up to 70% of Boutique Hotels or Condo Hotels. All projects are previously analyzed by a specialized team, to select the options with the best profitability and viability. It offers applicants the necessary liquidity to capitalize and potentiate their project or to be able to expand to new projects.
In addition, each investor becomes an active partner of the hotel in which he invests and can promote it by inviting his friends or acquaintances, to obtain a benefit and increase the occupancy of his hotel, creating an economy where everyone wins. Investments in Monific are backed by a property that hardly loses its value and the delivery of returns on projects in operation are distributed month by month. Likewise, the platform is in charge of maintaining an evaluation follow-up through monthly reports, to ensure the good operation of the hotel.
How do you think the implementation of digital functionalities will impact the traditional business model?
We have noticed in the newest companies in the market the exponential growth and the value they provide due to the digital functions implemented and that is why we are sure that Monific could significantly impact the traditional hotel model, by injecting capital into the property. to keep it in excellent condition and increasing occupancy thanks to the referral system that benefits investment partners with a considerable remuneration.
Is Monific interested in partnering with large companies in the sector?
Definitely, the more strategic alliances we can add to this ship, together we can have exponential scalability.
How do you think Finnovating can help you with this goal?
It helps us to connect with other companies that could fit with our business model and vice versa.
What do you think can be the impact of digital platforms in the FinTech industry?
The impact that there will be in the following years will be great since investment and the banking credit system are democratized, in fact, FinTech are a threat to banks but for the general public we will be a positive solution in their finances, granting them the freedom to make decisions for themselves and choose the cost/benefit of doing so.
What do you think are the secret ingredients of Finnovating that make it a unique platform?
- To be a platform that allows you to connect with FinTech companies around the world.
- Disclose the most innovative current platforms.
- Find and meet the best partners, customers and suppliers to generate positive impacts.
Why is Monific interested in being part of Finnovating? What are you looking for in the first global FinTech platform?
Finnovating helps us to make ourselves known in the FinTech industry and to be able to find the best alliances with other companies focused on the same objective.
Final: We would like to continue meeting and supporting other startups in the FinTech sector. What startup would you recommend us and why?
- CLIP: a better option than a bank terminal that allows you to carry out transactions without costs or rents.
- YOTEPRESTO: platform that allows you to make loans and investments between people.
CEO & Founder at Monific, David Agmon, CEO & Founder at Monific, David Agmon, CEO & Founder at Monific, David Agmon