Monite Raises $5M in Funding


Monite, a Berlin, Germany-based platform for embedded finance, raised $5m in funding.

The round was led by Point72 Ventures with participation from Klarna founder Victor Jacobsson, Mollie founder Adriaan Mol, PayPal senior executive Phil Valka, Plaid executive Jason Pate, fintech investor and Money2020 founder Jonathan Weiner, and Ex-Deutsche Bank Board Member and Oxygen investor Ralph Müller.

The company intends to use the funds to expand its team of fintech industry experts, drive market expansion into the UK, U.S., and beyond, develop new automated products, including accounts payable (AP), invoicing, expenses, cash flow, and analytics.

Led by Ivan Maryasin, co-founder and CEO, Monite allows B2B platforms, marketplaces, neobanks, and vertical SaaS to integrate high-end finance automation features on par with the top players in the market. Using Monite API, they can provide finance automation features, including compliant account payable automation, invoicing, and expense management, to their own customers. Through its embeddable API, Monite enables B2B software providers to serve all of their customers’ business finance needs in a single platform, increase retention and get access to new revenue streams.

The platform is currently available for customers in the US, the UK, Germany, and France.