Superangel and Tera Ventures participate in the €11m Series A-round to Montonio, Index Ventures leads the round
Photo: Montonio co-founder and CEO Markus Lember
Montonio, the all-in-one platform for online merchants to accept payments, offer financing and handle the entire post-checkout experience from shipping to returns and refunds, has raised €11 million in a Series A funding round led by Index Ventures. EstVCA members and previous investors Superangel and Tera Ventures also participated.
The company has also announced the launch of its offering in Poland, adding to its existing presence in Estonia, Latvia and Lithuania, with plans to add further markets this year. To support this growth, Montonio aims to expand its team across Europe.
Montonio has also been backed by senior Wise, Pipedrive and Bolt executives, including Bolt’s CEO Markus Villig, CPO Jevgeni Kabanov, and Adyen’s former managing director Myles Dawson who is joining the board.
Montonio's end-to-end platform enables merchants to seamlessly accept bank payments, and handle a range of e-commerce services, from financing to deliveries and refund management – all of this through single, self-serve API integration. Without Montonio, sellers are routinely overcharged and forced to deal with a fragmented patchwork of multiple systems or to rely on solutions that aren’t tailored to their specific market.
Markus Lember, CEO and co-founder of Montonio said: “Small to midsize merchants get a raw deal from traditional payments and logistics providers. Often they’re unable to accept local payment methods, are charged a premium for lower volumes, and must piece together many different solutions. This means they face higher costs, and can’t deliver top-quality customer service. We have decided to change that.”
Montonio removes the need for additional layers of providers and fees to accept direct debits, Buy Now Pay Later and other forms of payments, in part due to the introduction of open banking standards. It’s highly sensitive to local needs, offering a breadth and depth of post-checkout services for sellers – from shipping to returns and refunds – that are unmatched by other providers.
About Montonio:
Montonio is an all-in-one platform for online merchants to accept payments, offer financing and handle the entire post-checkout experience from shipping to returns and refunds. Founded by Karel Nappus, Kristofer Turmen, Markus Lember, Henrik Rank, Karl Kristjan Kalluste and Rasmus Õisma, Montonio is a Tallinn-based business, with offices in Latvia, Lithuania and Poland.
Read more about the investment:
**
Image courtesy: Montonio; https://unsplash.com/@brady_bellini