By Riley Kaminer
In America, 15.3 million households – upwards of 27 million people – move every year. Every single move requires heaps of mind-numbing admin: from updating addresses to canceling subscriptions and more. The problem is that, while this admin is time consuming and boring, it is also critical. It could even result in a liability or a loss of income if a bill or a check gets misplaced.
Jessica Mendoza knows this struggle firsthand. The native Venezuelan has lived all over the world: Miami (where she grew up and currently resides), New York, Ohio, France, London, Scotland, and beyond. “In all these moves, I realized that I always had trouble identifying all of the bills and services that were linked to me, and how to best update them all,” she told Refresh Miami. Even worse: continuing to receive mails for former significant others once they have moved out.
Mendoza eventually noticed that property managers were equally frustrated by misplaced mail. “Anything that arrives at the home – any delivery service, any mail, anything just arrives at the home – needs to be managed,” she explained. “Property managers don’t want to be liable for that.”
So in 2022, Mendoza launched Monadd, a startup that helps its 3,400 person user base discover and manage all the bills linked to their address. At first, Monadd expanded through a direct-to-consumer play. “At the same time, property managers started coming to us, asking how they can serve this to their residents,” said Mendoza, noting that Monadd’s B2B business is now its way forward.
Currently, Monadd charges tenants $10 per month. Property managers are able to get a bulk discount if they would like to provide Monadd to their residents. Monadd also offers access to their API for $1 per request.
Last year, Monadd raised a $300,000 round from some angels. Mendoza reports that the company is now fundraising again, with the goal to close a $1M round. She hopes to be able to expand her team, which currently consists of three full-time and two part-time staff members, plus a constellation of hands-on advisors.
Mendoza, who went to high school in Hialeah, moved back to Miami last December to build Monadd here, taking advantage of our robust real estate and property management market.
However, Refresh Miami spoke to Mendoza from Seattle, where Mendoza is currently taking part in AWS’s Impact Accelerator that is focused on Latino founders. “We’re incredibly grateful,” Mendoza said of the wide range of support AWS provides members of its cohort, which includes mentors, technical support, AWS credits, and more. The eight-week program will culminate with a pitch day presenting to investors in New York.
This fall, Monadd hopes to launch a service to enable people to better manage their subscriptions. “Even if you’re not moving, this will help you know what subscriptions are coming up and proactively manage them,” explained Mendoza. “We have had tons of feedback about that product – everybody wants it. We just need to put our heads down and complete it!”
Moving soon? Give Monadd a try by visiting their website, Monadd.io.
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