Monite Secures $6 Million in Funding
Berlin-based startup Monite has secured an extra $6 million in funding. The latest investment brings its seed round total to around $16 million. The company plans to use the money to update outdated B2B payment systems in the US.
Valar Ventures, a New York venture capital firm specialising in fintech, led the funding round. Third Prime, an existing investor, also contributed. Founded in 2010, Valar has a strong track record in backing financial technology companies.
Monite focuses on embedded finance workflows for businesses. Many US companies still rely on paper-based transactions, creating inefficiencies. The startup aims to modernise these processes for B2B platforms and their clients. The fresh capital will help expand Monite’s product range. While specific US platforms have not been named, the goal is to streamline transactions across the market.
The additional $6 million will support Monite’s push into the US B2B sector. The company intends to replace outdated paper methods with digital solutions. This move could simplify financial workflows for businesses relying on old systems.
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