Monite receives five million euros
The start-up offers embedded finance software for companies. Following a smaller financing round in March 2021, a larger investment has now been made by Point72 Ventures and several business angels.
According to information from Finance Forward the fintech Monite has raised five million euros. Point72 Ventures led the financing round. Business angels such as Klarna co-founder Victor Jacobsson, former Google Payments CEO Jonathan Weiner, Paypal Senior Director Phil Valka, Mollie founder Adriaan Mol and ING Germany Managing Director Ralph Müller also participated.
The start-up intends to use the investment to expand its business in the USA and the UK. In addition, further functions are to be added to the Monite software in the future, for example "Buy Now, Pay Later", invoice financing and factoring.Monite has been in existence for two years; Ivan Maryasin and Andrey Korchak founded the start-up. The company offers embedded finance for major customers.
Companies can integrate the Monite software into their website and thus offer financial services such as invoicing, expense management and accounting for their customers. This means that customers do not have to switch to an external financial service provider but can, for example, pay their online retailer directly. Monite had already raised 1.1 million euros in March of last year(we reported).
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