“Can a Mexican auto insurance app become the financial OS for drivers by embedding banking and insurance services into a single telematics-driven mobile platform?”
Momento was founded in 2021 in Mexico City as an auto insurance and telematics platform targeting Mexican drivers, offering driving behavior scores, theft-risk assessments, gas and parking discovery, and insurance carrier services through a mobile application. The company evolved from a pure insurance product toward an embedded finance model, as evidenced by its partnership with Evolve Bank & Trust — a US-based BaaS sponsor bank — suggesting ambitions to layer financial services (potentially embedded accounts or payments) on top of its insurance core. The company raised a Series A of $10.2M and operates at the intersection of InsurTech, AI/ML, and SaaS.
Momento discloses Evolve Bank & Trust as its banking provider, according to the Embedded Finance Index 2026.
Momento does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
The Embedded Finance Index 2026 maps 2 layers in Momento's stack: Banking / BaaS (Evolve Bank & Trust); Sponsor bank (Evolve Bank & Trust).
Momento is founded in 2021 and headquartered in Mexico City, Mexico.
Momento has raised $10.2M in total (latest round: Series A).
Get a read on where your own stack stands against Momento and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.