Monto, an Israeli fintech innovator specializing in AI-driven solutions for B2B payments, has announced the successful closure of a $9 million seed funding round. The funding, spearheaded by Scale Venture Partners and complemented by investments from Verissimo Ventures, F2 Venture Capital, Firsthand Alliance, and Room40 Ventures, marks a pivotal step as Monto transitions from stealth mode and launches its expansion into the U.S. market.
Monto’s cutting-edge platform integrates with various ERP systems and AP portals to automate the payment collection process, significantly reducing manual work and optimizing cash flow management. By leveraging artificial intelligence, Monto has already facilitated nearly $1 billion in transactions, proving its potential to transform the B2B payment landscape.
Editorial Insight: Monto’s debut into the B2B payments sector is timely, addressing the intricate challenges of payment collection amid a global shift towards digital invoicing. The platform’s ability to simplify integration and streamline payment workflows is a notable advancement in financial technology. As regulatory environments evolve and the demand for efficient payment solutions grows, Monto is well-positioned to lead the way with its innovative AI technology, promising significant industry impact and long-term growth.
“Our goal with Monto is to eliminate friction in payment processes, making transactions as seamless and automated as possible,” stated Maya Cohen, CEO and co-founder. “Our ‘zero-touch’ approach is designed to work harmoniously with existing payment portals, ensuring an effortless payment experience.”
Founded by Maya Cohen (CEO), Nitsan Yerushalmi (CCO), Gabriel Wertheimer (CPO), and Yoav Shotland (CTO), Monto combines deep expertise in ERP systems and payment technologies to deliver a robust platform. The company is also expanding its footprint with a new office in New York City, reflecting its commitment to growing its presence in the U.S. market. Monto’s website.
If you need further assistance or have any corrections, please reach out to editor@thetimesmag.com.
