Monite
Embedded finance APIs for B2B platforms
TL;DR: Embedded finance APIs for B2B platforms.
Key Metrics
Milestones
Founders
CEO & Co-Founder
CTO & Co-Founder (until Jan 2024)
Pricing
Sources
Timeline
2020-01
Ivan Maryasin and Andrey Korchak co-found Monite in Berlin
2020-02
Begin bootstrapping B2C SME finance tool with 2 developers
2020-06
COVID-19 accelerates fundraising by enabling remote investor meetings and e-signatures
2020-09
Complete 8-month bootstrap phase with working B2C product
2020-10
Discover broken unit economics: multi-year sales cycles, few hundred dollars annual revenue per SME, 10-year break-even projection
2020-12
Begin pivot from B2C to B2B API-first infrastructure model after observing hundreds of companies building identical fintech features
2021-03
Raise €1.1M pre-seed from Tomahawk VC, Signals Venture Capital, InVentures, and Runa Capital
2021-06
Build banking connectivity layer and initial API building blocks
2021-09
Angel investors Adriaan Mol and Victor Jacobsson join
2021-12
Survey 3,000+ SMEs and freelancers - find 76.5% prefer one platform for admin needs
2022-02
Raise €4.4M seed round led by Point72 Ventures
2022-06
Begin building sales team with networking and cold calling approach
2022-09
Encounter microservice architecture problems - tangled connections and circular dependencies
2022-10
CTO implements mandatory Architecture Decision Records (ADRs) to govern technical decisions
2023-01
Raise ~€5M seed extension led by Third Prime, bringing total to €9M+
2023-03
Launch Invoice Payment Links - 6-day integration enabling platforms to monetize payments
2023-06
Hire CMO with prior experience at Mollie to lead marketing
2023-09
Begin content marketing investments with 1-3 year expected payback
2023-12
Achieve strong growth despite 40% decline in fintech VC investment market-wide
2024-01
CTO Andrey Korchak transitions out of CTO role after growing team from 3 to 60
2024-02
Raise $6M seed top-up co-led by Valar Ventures (Peter Thiel) and Third Prime, total $16M
2024-02
Sign Capital on Tap and OpenSolar as anchor US clients
2024-03
Launch Invoicing and Bill Pay for US market with ACH and check payment rails
2024-06
Achieve 10x increase in monthly recurring revenue
2024-09
Reach 5x year-over-year customer growth
2024-12
Reach 6-figure (~$627K) annual revenue with 28+ clients across EU and US
2025-02
Launch iFrame enabling AP/AR integration in under 2 hours with OAuth 2.0
2025-02
27 employees across 3 continents (Europe, North America, Asia)
Distribution
Growth Story
Target Audience
B2B SaaS platforms, neobanks, vertical software companies, and payment companies that want to embed financial workflows without building from scratch
Problem Solved
B2B platforms spend $1-2M and 1-2 years building invoicing, payables, and payment features in-house. Monite lets them integrate equivalent functionality via API in 4-5 weeks.