| Founded | 2017 |
|---|---|
| Closed | 2023 |
| Country | Colombia |
| Sector | Fintech |
| Total raised | $20M (IFC, Quona Capital, 2017–2022) |
| Collapse type | Fire Sale |
| Founder | Hernando Rubio |
Movii
"Colombian mobile wallet and neobank reached 3M registered users before selling to Banco W in a distressed deal in 2023 as the cost of serving unbanked Colombians proved impossible to recover from interchange revenue alone."
Distressed acquisition below last-round valuation
Key Events Timeline
Movii was founded in Bogotá in 2017 as a digital wallet and prepaid card targeting Colombia's large unbanked and underbanked population.
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