Monto’s four founders (company pic)
Monto is an Israeli startup that offers what the firm calls the “first-of-its-kind” AI connector designed for any ERP – Enterprise Resource Planning. The firm exited stealth with $9 million in seed funding to “bring order to B2B payments collection chaos.” Monto enables B2B finance teams to “seamlessly get paid from any AP portal used by their enterprise customers.” The company also announced the opening of a U.S. office in New York City.
ERP is a software system that integrates and manages a company’s core business processes. Think of it as the central nervous system of a business, handling everything from finance and accounting to human resources, supply chain management, and production. Essentially, an ERP system helps businesses operate more efficiently and effectively by providing a unified platform for managing their operations.
Monto boasts that the firm has revolutionized the way businesses manage their financial systems by creating intelligent connections between ERPs and AP portals. Its AI-powered platform automates invoicing processes, tailoring solutions to each customer’s specific requirements. This streamlined approach significantly reduces manual labor, minimizes late payments, and optimizes cash flow management for suppliers.
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Global regulations are forcing businesses to adopt standalone e-invoicing platforms. As Deloitte predicts, this shift is driven by both government mandates, particularly in Europe, and market leaders supported by governments. The resulting B2B landscape is a complex web of disparate payment systems, each with its own intricate logins and workflows. This fragmented ecosystem is creating chaos for payment collection teams, severely impacting cash flow and working capital.
Monto was founded by Maya Cohen, CEO; Nitsan Yerushalmi, CCO; Gabriel Wertheimer, CPO; and Yoav Shotland, CTO. Maya and Nitsan, who previously worked as ERP implementors and collectors in finance departments, built Monto’s MVP with a $15 budget while studying entrepreneurship at university. Meanwhile, Yoav and Gabriel, both software developers, were focused on their own payment startup. The four met three years ago and joined forces, combining their skills in finance and tech to create Monto with a mission to solve B2B payments for good.
“Monto is a strategic decision for CFOs, future-proofing them against a landscape where most, if not all, customers will soon use portals,” said Maya Cohen, CEO and co-founder of Monto. “With Monto, getting paid by customers will be fully automatic, a concept we call ‘zero-touch,’ and we succeed in achieving that by working with, not against, the portals, an important distinction.”
