We advised Montonio, an Estonian fintech offering an all-in-one platform for online merchants to accept payments on raising EUR 11 million in a Series A funding round led by Index Ventures.
Interest from major market players
The funding round was led by Index Ventures, Europe’s leading venture capital fund, which has invested in Skype, Wise, Dropbox, Revolut and the global payment solutions company Adyen, among others.
The company’s previous investors Tera Ventures, ffVC and Superangel also participated in the round. Previously, 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.
Focus on growth
With the capital raised, Montonio intends to create a comprehensive e-store solution for small and medium-sized merchants that will cover the entire purchase and post-purchase journey. The investment will also be used to expand the company. Montonio, which has recently expanded to Poland, plans to enter several more markets in Europe this year and quadruple its team.
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.”
Our services and client team
We supported Montonio throughout the fundraising process by, among other matters, preparing and negotiating all relevant transaction documents.
Our client team was led by senior associate Mirell Prosa, supported by Toomas Prangli. The client team also included counsel Jane Eespõld and associates Vladislav Leiri and Kadri Puu.