Berlin-based fintech company Monite, is the first API specialized finance automation for B2B platforms. The company recently secured an additional $6 million in Seed funding to bolster its growth.
This funding round was spearheaded by Valar Ventures and Third Prime, with continuous support from existing investors; which drives Monite towards its goal of becoming a preeminent embedded finance provider in Europe, further expanding its presence in the United States.
Monite nder the leadership of CEO Ivan Maryasin, empowers B2B platforms, including banks, neobanks, payment providers, and verticalized SaaS, to seamlessly integrate financial workflows like invoicing, payables automation, expense management, and accounting for their clients. Leveraging its APIs and SDKs, B2B platforms can now offer comprehensive finance management to their clients in a fraction of the time, completing the process in 4-5 weeks compared to the traditional 2-year, $1-2 million development costs for an internal solution.
Currently serving over 28 client platforms across the European Union, the United States, and other regions, Monite has garnered support from notable backers, including Valar Ventures, Third Prime, P72, founders of Klarna, Mollie, and Nium, as well as executives from Plaid and PayPal. This infusion of $6 million in funding positions Monite for continued success, enabling it to fortify its position in the embedded finance landscape and extend its influence across global markets.