# Montonio Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/montonio-finance

- Industry: Financial Services
- Headquarters: Tallinn, Estonia
- Website: www.montonio.com
- Total disclosed funding: $15M
- Latest round: Series A (Apr 12, 2022)
- Investors on record: 7

## About

Based in Tallinn, Estonia and founded in 2018 by Kristofer Turmen and Markus Lember, Montonio Finance operates as a fintech company that provides financial services to e-commerce merchants and consumers. The firm has partnered with more than 1,300 e-commerce merchants across the Baltic states and other European countries. In August 2021, Montonio Finance raised EUR 2.5 million (USD 2.97 million) in Seed funding from Tera Ventures, ff Venture Capital, 365.fintech, and individual investors.

Montonio Finance offers payment solutions based on open banking such as Visa or Mastercard that allows customers to buy now pay later (BNPL). The company also provides e-store platforms and API documentation such as WooCommerce, PrestaShop, Magento 1.9, Magento 2, OpenCart, and Odoo.

The company generates revenue by charging a service fee of EUR 0.05 + VAT per payment.

Montonio Finance plans to use its Seed funding raised in August 2021 to expand into new markets across the EU and to gain market share in their existing markets.

## Funding rounds

- Series A, Apr 12, 2022, $12M — Index Ventures, ff Venture Capital, Tera Ventures, Superangel
- Seed, Aug 4, 2021, $3M — ff Venture Capital, Practica Capital, Startup Wise Guys, Tera Ventures, Superangel, 365.fintech

## Investors

- ff Venture Capital (https://capitalatlas.ai/funds/ff-venture-capital) — Seed, Series A
- Practica Capital (https://capitalatlas.ai/funds/practica-capital) — Seed
- Startup Wise Guys (https://capitalatlas.ai/funds/startup-wise-guys) — Seed
- Tera Ventures (https://capitalatlas.ai/funds/tera-ventures) — Seed, Series A
- Superangel (https://capitalatlas.ai/funds/superangel) — Seed, Series A
- 365.fintech (https://capitalatlas.ai/funds/365-fintech) — Seed
- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series A