Monito, a Lausanne, Switzerland-based comparison website for international money transfer services, raises $2.5M in Series A funding.
The round was led by Tamedia, Switzerland’s leading media group, who owns digital brands such as Doodle, Zattoo, Ricardo.ch (amongst others), with participation from Silicon Valley-based serial fintech entrepreneur Alexandre Gonthier, B&Y Venture Partners and existing investors.
The company intends to use these funds to extend its international audience and hire new software engineers, designers and digital marketers to complement its current team.
Led by François Briod, co-founder and CEO, Monito helps individuals and businesses find, compare and review the best money transfer provider for their needs out of the hundreds of available options (over 400 money transfer providers) across more than 190 countries.
The comparison website, which ranks money transfer services based on their cost, speed, pay-out method, trustworthiness and more, has already been used by millions of people from all over the world and currently employs 7 staff members.