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- Monto Exits Stealth with $9 Million Seed Funding to Revolutionize B2B Payments Collection
Monto Exits Stealth with $9 Million Seed Funding to Revolutionize B2B Payments Collection
Slice of Finance Team
07 Aug
Key Highlights:
Monto secures $9 million in seed funding led by Scale Venture Partners.
Launches U.S. office in New York City to expand its market presence.
AI-powered platform integrates seamlessly with any ERP to simplify B2B payments.
Reduces manual workload and improves cash flow for finance teams.
Supports multiple ERPs including NetSuite, SAP, and QuickBooks.
Source (Business Wire)
Notable Quotes:
“Monto is a strategic decision for CFOs, future-proofing them against a landscape where most, if not all, customers will soon use portals. With Monto, getting paid by customers will be fully automatic, a concept we call ‘zero-touch,’ and we succeed in achieving that by working with, not against, the portals, an important distinction.”
“Our investment in Monto is the result of years of work focusing on the CFO suite and the intersection with procurement. We are very well aware of the evolution of and pain points in this trillion-plus dollar market.”
Our Take:
Monto's successful exit from stealth mode with a substantial seed funding round marks a significant milestone in the evolution of B2B payments. Their innovative AI-powered platform addresses the critical pain points faced by finance teams in managing payment collections from multiple AP portals. By automating these processes and integrating seamlessly with various ERPs, Monto is poised to become a game-changer in the industry, offering a 'zero-touch' payment solution that enhances efficiency, reduces manual workloads, and improves cash flow management for large enterprises. Their expansion into the U.S. market and robust backing from leading venture capital firms further validate their strategic approach and potential for growth.