Monneo triples customers as demand for Digital Banking solutions soars

By Joy Dumasia

Monneo is celebrating a year of exceptional company growth resulting in a three-fold increase in its customer base in 2021. Further to significant inward investment, including a substantial rebrand, several key partnership announcements, a landmark deal with cryptocurrency exchange Coinbase, and the completion of agreements with several card acquirers Monneo continues to go from strength to strength.

The entirely self-funded business has recently opened a new office in Sofia, Bulgaria, providing the company with extra capacity to deal with the continued demand for its services and sustained growth in its customer base. The new office space will also support Monneo’s new card acquiring service for online merchants.

Monneo can now offer a proper end-to-end solution for eCommerce merchants. Customers can use the company’s solutions to process online payments, receive settlements, transact and payout, whilst maintaining control of multiple IBAN accounts and merchant accounts at several different banks through a single platform/API.

eCommerce merchants can accept card payments on their websites, receive settlements in the provided IBAN accounts and make incoming and outgoing bank transfers to third parties worldwide in 134 currencies. The solution also enables B2B invoices to be paid in an extensive range of cryptocurrencies.

Lili Metodieva, Managing Director of Monneo, commented: “We’re all proud of what has been achieved this year and look forward to building on that success in 2022. As a company, we’ve witnessed an almost doubling of our team and a trebling of our customer base in the past year. Customers are already benefitting from an expanded array of financial institutions included in our network, as well as the launch of our card processing service and our new partnership with Coinbase. Only with Monneo do customers have access to multiple banking accounts and several card acquiring services all through a single platform. We remain committed to our customers and will continue to provide access to a digital banking network that supports eCommerce B2B IBAN accounts. The current banking setup isn’t suited to the demands of modern eCommerce businesses. There remains a lack of understanding of what online businesses need and too much fragmentation across the market. Our solution helps to put an end to that, delivering a more reactive and responsive alternative.”