Monto, an AI connector for any ERP from Tel Aviv, Israel, raised $9m in preliminary funding.
Firsthand Alliance, Verissimo Ventures, F2 Venture Capital, and Room40 Ventures were among the investors in the round, which was led by Scale Venture Partners. Fintech angels from top positions at Intuit, Plaid, Salesforce, and other companies, as well as serial entrepreneur Ariel Maislos, took part in the discussion.
The money will be used by the business to expand into the United States and keep developing its technology.
B2B finance teams can receive payment from any AP portal used by their corporate customers thanks to Monto, which was founded by Maya Cohen (CEO), Nitsan Yerushalmi (CCO), Gabriel Wertheimer (CPO), and Yoav Shotland (CTO).
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In order to guarantee a smooth payment flow for the supplier, lessen manual labour, lower the danger of late payments, and enhance cash flow management, its AI-based platform learns each customer’s invoicing requirements.
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Large businesses from a variety of industries are catered to by Monto, which has assisted suppliers in receiving payments totalling nearly $1 billion through thousands of intelligent connections to numerous buyers across more than 300 portals.
These include publicly traded firms such as TechTarget, Shutterstock, and Miro, as well as tech companies like G2.
The business also declared the launch of a New York City office.
About Monto
Monto is the first platform that learns each customer’s billing requirements and interacts with every payment portal, including Ariba and Coupa, allowing you to issue, track, and collect invoices from a single location with just one click and no manual labour involved.
