While procurement represents a $10 trillion market, much of it remains stubbornly reliant on outdated workflows that resist automation. Stepping into this longstanding gap, Monq has secured $3 million in pre-Seed funding led by Outward VC, with participation from Cornerstone VC, Portfolio Ventures, Octopus Ventures, Endurance Ventures, Lakestar Halo, and strategic angels.
The funding will help scale Monq’s engineering and product teams and accelerate its global rollout. Founders Yasin Bostancı and Duygu Gözeler Porchet told TFN, “To date, we have raised a total of $3M at one go. This figure reflects our decision to decline several additional subscriptions, which would have brought the total over $5.5M.”
Combining advanced language models, contract expertise, and insights from behavioural science, Monq offers a solution that works alongside human teams to slash costs by up to 40% and accelerate deal closures by five times.
Unlocking the hidden value buried in strategic negotiations
Founded in April by Yasin Bostancı, former Operating Partner at Revolut’s CEO Office, and Duygu Gözeler Porchet, an award-winning business leader with an extensive career at major global banks, including Deutsche Bank and HSBC, Monq is tackling one of the largest inefficiencies in enterprise operations: how global corporations strike their most important deals.
Yasin Bostancı, Co-founder and CEO of Monq, said: “Strategic procurement is one of the last frontiers for true automation because so much of it remains powered by intuition. Throughout my previous roles, I saw just how much instinct drives results, but also how much time is wasted and how much value is being left on the table because instinct alone can only go so far.
She added, “Our goal at Monq isn’t to replace that judgment but to amplify it. By empowering procurement teams with strong, actionable, data-driven and intelligent insights, we’re giving enterprises the speed, clarity and confidence to negotiate at an entirely new scale while unlocking billions in hidden deal flow, value and efficiency before that value is lost to the company.”
At the core of Monq is a multi-agent AI platform. Unlike other tools that focus simply on digitising existing procurement steps, Monq’s system simulates negotiation counterparts, drawing on historical deal data and supplier behaviour to recommend optimal moves.
It gives users full control over how much negotiation autonomy is delegated to the AI, blending human judgment with machine precision. Early pilots have demonstrated significant savings and efficiency gains across industries like manufacturing, healthcare, and automotive.
While competitors such as ProcureTech Solutions, IntelliProcure Inc., and SmartBuy Innovations also operate in this space, Monq’s integration of negotiation psychology with autonomous AI agents sets it apart.
How is it being female in tech?
Gözeler told us, “As a woman co-founding an AI startup, I’ve found the journey incredibly fulfilling. Coming from a senior banking background, I’m well-accustomed to navigating male-dominated environments and the ‘old boys club’ mentality. Thankfully, my professional foundation in finance has equipped me with the confidence, negotiation skills, and thick skin needed to succeed as a female tech founder.
My advice to women entering this field is to stay firm in your vision and capabilities. Don’t take no for an answer; as women, our unique perspectives, emotional intelligence and leadership styles are invaluable assets – it’s time we leaned into these strengths unapologetically. Surround yourself with advocates and a supportive network of men&women who will champion your success. Speak up, take charge and don’t apologise for your ambition. Your voice and vision matter.
When it comes to navigating the challenges that come with being a female founder, remember that your expertise and track record are your greatest allies. Above all, stay true to yourself and your authentic leadership style. The tech world sorely needs greater diversity of thought and experience. As women leaders, we have an incredible opportunity to drive positive change and pave the way for the next generation.”
What’s next?
Monq plans an expansion of its teams and operations across the EU, the US, and the Middle East. The company will initially offer its platform on a subscription basis, with plans to explore performance-based pricing in the future. The oversubscribed funding round underscores investor confidence in Monq’s potential to disrupt the $10 trillion procurement market, reshaping how enterprises negotiate and manage supplier relationships at scale.
Devin Kohli, Partner at Outward VC, said: “Monq’s AI platform has the potential to redefine enterprise procurement entirely. The strategic procurement space is a blue ocean for AI innovation and Monq’s unique AI-human approach is already unlocking millions in measurable savings while transforming how enterprises work. We are delighted to be partnering with Yasin, Duygu and team.”
