Monite receives five million euros
Sophie Deistler
| 22.02.2022
The start-up offers embedded finance software for companies. A smaller funding round in March 2021 was now followed by a larger investment from 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 CEO Ralph Müller also participated.
The startup wants to use the investment to expand its business in the US and UK. It also plans to add more features to Monite's software in the future, such as "Buy Now, Pay Later," invoice financing and factoring.Monite has existed for two years, Ivan Maryasin and Andrey Korchak founded the startup. The company offers embedded finance for large customers.
Companies can integrate Monite software into their web presence to provide financial services such as invoicing, expense management and accounting to their customers. As a result, customers do not have to switch to an external financial service provider, but can, for example, pay their online retailer directly. In March of last year, Monite had already raised 1.1 million euros(we reported).
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Startup
2020
Berlin
Monite
All-in-one financial management platform for SMEs that automates up to 90% of accounting and administrative tasks.
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