Success! You're on the list.

Success! You're on the list.

Klarna and Mollie founder back $5M round of German embedded finance firm Monite


Quite lately, Embedded finance has already become one of the most talked-about services in the world of fintech. According to the new study from Juniper Research, the embedded finance market will exceed $138B in 2026, from just $43B in 2021. 

The term embedded finance is when financial services are embedded within non-traditional financial services areas, like banking services within a ridesharing app or insurance services within an e-commerce checkout process.

According to a global Accenture survey, 2,500 SMEs in 10 markets confirm that SMEs are interested in embedded finance solutions from digital platforms.

Numerous platforms are thinking about how best to position themselves in this emerging sector. One such company is Monite, a Berlin-based embedded finance platform. The company helps SaaS businesses and neobanks build additional financial products and secure new revenue streams.

Raised $5M

Recently, the German company has secured $5M in a round led by Point72 Ventures with participation from Klarna founder Victor Jacobsson, Mollie founder Adriaan Mol, PayPal senior executive Phil Valka, Plaid executive Jason Pate, fintech investor and Money2020 founder Jonathan Weiner, and Ex-Deutsche Bank Board Member and Oxygen investor Ralph Müller.

How will the funding be used?

The latest capital injection will enable Monite to expand its operations in the UK, US, and beyond as well as increase the headcount. 

The funds will be also used to develop new automated products, including accounts payable (AP), invoicing, expenses, cash flow, and analytics. 

Monite’s platform is currently available for customers in the US, the UK, Germany, and France.

“Every company already has an online service they’re using most of the time, whether it’s a neobank, a vertical software provider, or something else. These platforms are already a part of the business process, so it would be easy for businesses to trust them with their finances”, says Ivan Maryasin, co-founder and CEO of Monite. 

He adds, “Monite allows these services providers to become this one-stop shop and provide its customers with a full suite of back-office tools, including invoicing, payables automation, and expense management. And all of that is fully embedded into the familiar interface and connected with other tools, providing a seamless customer experience. Over time, Monite will also add contextual upsell of relevant financial services from top market players for things like invoice insurance, BNPL, invoice financing, factoring, and more, enabling businesses to support their customers’ financial needs from end to end.” 

Embedded finance made easy

Founded by Andrey Korchak and Ivan Maryasin in 2020, Monite allows B2B platforms, marketplaces, neobanks, and vertical SaaS to integrate high-end finance automation features.

Using Monite API, they can provide finance automation features, including compliant account payable automation, invoicing, and expense management, to their own customers. 

The API platform is built to take 90% of the heavy lifting of the clients’ shoulders while allowing them to customise the solution to their audience’s needs.

Monite says the API implementation takes between 2 and 5 weeks while it not only navigates clients through the technical implementation but also helps them build a frontend experience by enabling them on the full UX flow. 

In the future, the company plans to launch a full-scale white-label solution that can be implemented in just 24 hours. 


Based out of New York, Point72 Ventures is an every-stage global VC fund focused on fintech, deep tech, and enterprise investments led by Steven A. Cohen.

The VC offers entrepreneurs access to expertise and insights, executive and technical talent, and hands-on support. 

“Recent years have seen an explosion in software being developed that helps companies run their core business operations, and we have seen embedded finance solutions emerge to help these software businesses launch associated financial products,” says Pete Casella, Partner at Point72 Ventures. 

He adds,“ We believe Monite is part of the next generation of embedded finance. Their products allow developers to expand the capabilities of their software by adding additional workflows and tooling, starting with APIs that enable financial workflows such as accounting automation and expense management.”  

Related Posts

Get daily funding news briefings in the tech world delivered right to your inbox.

Enter Your Email
join our newsletter. thank you