Monite, a b2b financial management software developer, has raised $5 million from Third Prime, s16vc, Audeo Ventures and Swedish investment management firm Long Run Capital.
The co-founder and CEO of the company, Ivan Maryasin, spoke about this on his personal account on LinkedIn.
“We are pleased to announce that we have doubled our seed capital to $10 million! This round will contribute to the development of our product and the launch of new partnership projects in the field of payments and financial products,” he wrote.
Forbes drew attention to the news and reminded that among the investors of the company with Russian roots there are also household names: one of the partners of the s16vc venture studio is the founder of Miro Andrey Khusid.
Monite is a high-tech platform that helps small and medium-sized businesses (including marketplaces, neobanks, b2b service startups, etc.) increase revenue through intelligent automation of AP/AR processes and earn more with the synergy of SaaS, upsells and electronics. Payments
The company was founded by Ivan Maryasin and Andrey Korchak in 2020. In 2021, the partners raised €1.1 million from venture capital funds Runa Capital, Tomahawk VC and others.
In 2022, Monite managed to find another 5 million dollars: the Point72 Ventures fund and various business angels decided to finance the project (after which the startup was included in the Forbes rating of the most promising).
Now the company works with dozens of companies in Europe. Through new investments, the leaders of the platform intend to increase the audience and develop the product line:
“We plan to expand the geography of influence and the depth of the services provided, covering more and more operations from the order to the receipt of cash and from the conclusion of a contract to the actual payment,” adds Ivan Maryasin.
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