Close this search box.

Berlin-Based Fintech Monite Raises $6M, Eyes U.S. Market Penetration

In a significant boost to its growth trajectory, Berlin-based fintech startup Monite has successfully secured an additional $6 million in seed funding. This round marks a pivotal moment for Monite, underscoring its commitment to redefining the B2B payments and finance automation landscape, particularly within the United States.

The Funding Round: Key Players and Purpose

The funding round was co-led by Valar Ventures, known for its association with tech mogul Peter Thiel, and Third Prime, with continued support from existing investors. This infusion of capital brings Monite’s total seed funding to an impressive $16 million, setting the stage for an ambitious expansion into the lucrative U.S. market.

Monite at a Glance

Founded in 2020 by Ivan Maryasin and Andrey Korchak, Monite is at the forefront of finance automation for B2B platforms. Its API-first approach enables banks, neobanks, payment providers, and SaaS platforms to integrate comprehensive financial workflows, including invoicing, payables automation, and expense management, thereby streamlining operations for small and medium-sized businesses (SMBs).

Addressing B2B Payment Inefficiencies

The U.S. B2B payment sector, characterized by its reliance on outdated methods such as cash and checks, presents a ripe opportunity for innovation. Monite aims to revolutionize this sector by facilitating automated financial operations within B2B platforms, a move that could significantly enhance efficiency and compliance adherence for SMBs.

Monite Secures $6M for U.S. Expansion

Expansion and Product Development

With the latest funding round, Monite is poised to double down on product development and expand its suite of embeddable financial services. The company’s strategy includes solidifying its position as a European embedded finance leader while making inroads into the U.S. market, a plan that has already seen the signing of strategic clients like Capital on Tap and OpenSolar.

See also  HSBC Challenges Fintech Giants with Zing Launch

Impressive Growth Amidst Challenges

Despite a reported downturn in venture capital interest in fintech in 2023, Monite has demonstrated remarkable growth, with a 10x increase in monthly recurring revenue and a 5x year-over-year customer growth. This performance has attracted the attention of investors like Valar Ventures, highlighting Monite’s potential to make a significant impact in the finance automation domain.

The Road Ahead: U.S. Market Penetration

Monite’s U.S. expansion strategy includes launching invoicing and bill pay solutions tailored to the U.S. market, incorporating ACH and check payment rails, and aligning with local regulatory standards. This approach not only positions Monite as a key player in finance automation but also as a valuable partner for B2B platforms seeking to enhance their financial service offerings.


Monite’s strategic funding round and planned U.S. expansion represent a significant milestone in the fintech sector’s evolution. By addressing the inefficiencies in B2B payments and leveraging its innovative technology, Monite is well on its way to transforming the landscape of finance automation for SMBs across the globe.

Read Next