# Momnt Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/momnt-technologies

- Industry: Financial Services
- Headquarters: US
- Website: www.momnt.com
- Total disclosed funding: $40M
- Latest round: Series A (Jul 26, 2023)
- Investors on record: 6

## About

Based in the US, Momnt Technologies, Inc. is a specialized financing platform dedicated to home improvement contractors and their customers, streamlining loan applications and providing a range of financing options for renovation projects.Momnt Technologies, Inc. focuses on delivering a financing platform tailored for home improvement contractors and their clients. Founded in 2020, the company has engaged in 6 total deals, with its most recent funding occurring on October 23, 2023. The company successfully raised USD 150 mn in VENTURE DEBT from investor Jefferies. The founders are Barclay Keith, Brad Friedlander, Brian Lanehart, and Lena McDearmid, while Ashish Kundapur serves as the CEO.Momnt Technologies, Inc. specializes in providing a streamlined financing platform designed specifically for home improvement contractors and their consumers. The core offering includes a digital financing solution that allows merchants to securely send loan applications to customers via text or email, enabling pre-qualification within minutes without impacting credit scores. Once pre-approved, customers can browse multiple financing offers, making informed choices based on their budget and preferences. This service addresses the common pain points associated with financing in home renovations and repairs, facilitating an easy and transparent borrowing experience. Momnt operates primarily in the United States, catering to contractors and consumers engaged in home improvement projects across various states.Momnt generates revenue through transaction processing fees associated with the financing services it provides to contractors and their customers. When a customer is pre-qualified for financing, the contractor can facilitate the transaction, leading to a payment that is processed quickly through Momnt’s platform. This results in a seamless experience for end-users. The company’s revenue model is structured around B2B relationships, where merchants partner with Momnt to offer financing options directly to consumers. By leveraging partnerships with participating financial institutions, Momnt facilitates the origination of consumer loans, contributing to their revenue stream through transaction fees associated with each loan issued. The focus on home improvement financing underscores their commitment to meeting the specific needs of contractors and consumers alike.In October 2023, Momnt Technologies, Inc. raised USD 150 mn in VENTURE DEBT funding, which will be utilized to support ongoing growth and improvements in its business. The company is working on launching new products designed to enhance its current offerings and streamline the financing process further. Additionally, Momnt plans to expand into new geographic markets, with specific targets for growth being identified but not yet disclosed. The latest funding will enable these initiatives, supporting the company's strategic direction for innovation and market reach.

## Funding rounds

- Series A, Jul 26, 2023, $35M — TruStage Investment Management, Rockefeller Capital Management, Saluda Grade
- Series A, Jun 21, 2021, $4.4M — Fintech Ventures Fund, CMFG Ventures, Saluda Grade, Independent Community Bankers of America
- Seed, Aug 25, 2020, $1.5M — Fintech Ventures Fund

## Investors

- Fintech Ventures Fund (https://capitalatlas.ai/funds/fintech-ventures-fund) — Seed, Series A
- CMFG Ventures — Series A
- Saluda Grade (https://capitalatlas.ai/funds/saluda-grade) — Series A
- Independent Community Bankers of America — Series A
- TruStage Investment Management — Series A
- Rockefeller Capital Management — Series A