Monite, a Berlin, Germany-based API-first embedded finance workflows startup, raised $10M in Seed funding.
The round was led by Third Prime, with participation from S16, Audeo Ventures, Long Run Capital and Point72 Ventures, as well as Nium founder Prajit Nanu, Penta co-founder Igor Kuschnir, Klarna founder Victor Jacobsson, Mollie founder Adriaan Mol, ex-PayPal senior executive Phil Valka, and Plaid executive Jason Pate.
The company intends to use the funds to develop new product features, cover more payment and financial services integrations, and expand its reach in the growing B2B payments market.
Led by CEO Ivan Maryasin, Monite is an Embedded Workflows API partner that lets B2B neobanks and SaaS platforms offer invoicing, bill pay, expense management and other financial automation to their SMB clients. The company allows B2B platforms to become an all-in-one provider for their customers and earn additional revenue from B2B payments and new product lines while SMBs automate their manual routine within the software they already use regularly.
Currently, Monite has ten clients in Europe and the US and plans to close more deals in the next few months.
FinSMEs
20/03/2023