Momnt announces $9.5m investment
By Edlyn Cardoza
Momnt Technologies, Inc., a financial technology company that powers real-time lending and payment solutions for businesses at the point of need, announced the closing of their latest capital raise, totaling $9.5 million from a combination of existing investors plus a new strategic investment from Yamaha Motor Ventures. Headquartered in Atlanta, the company formerly known as Artis Technologies launched its platform in 2020 in the home improvement industry. More recently, it announced its presence in the healthcare space, entering the patient finance industry.
“We’re excited to announce this strategic investment from Yamaha Motor Ventures. Yamaha’s investment speaks to the opportunities that emerge when you embed real-time financial services seamlessly into existing distribution networks,” said Barclay Keith, CEO of Momnt. “This is an incredibly exciting time at Momnt, and we recognize the fantastic opportunities this creates to add new financial products and new industry verticals both domestically and internationally to our rapidly expanding business.”
“We are very excited to join Momnt on their journey to drive innovation in point-of-sale lending,” said Kei Onishi, CEO and Managing Director of Yamaha Motor Ventures. “What makes Momnt unique is their ability to seamlessly and securely connect lenders to network distribution channels, enabling simple and transparent financing solutions to borrowers at payment.”
Momnt will utilise the added capital to continue investing in its people, processes, and technology, further improving Momnt’s platform. In 2021, the company closed a $7 million series A funding round and announced its largest ever bank commitment to its platform. The company has grown to over 100 employees while achieving significant financial and operating milestones.
“Momnt has experienced incredible growth over the last year, fueled by the team’s tenacious execution and thoughtful strategy. The growth reflects the strong market demand from consumers and merchants alike. That has resonated with credit unions and other lenders searching for partners who can deliver quality loan volume,” said Sam Das, Managing Director at CMFG Ventures.
Momnt enables financial institutions to put excess capital to work by generating consumer loan assets with attractive risk-adjusted returns at point-of-need via merchants and merchant networks. These merchants become the “face of financing” to the consumer, offering loans originated by partner financial institutions at the moment when the consumer is making a purchasing decision. Its API-based platform presents custom; real-time loan offers to individual borrowers at the point of making a purchase. This approach helps drive demand for the merchant, extends creative, well-structured financing to the consumer, and generates new revenue sources for participating financial institutions.
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