Momnt, a leading Fintech company specializing in real-time lending and payment solutions for businesses, has successfully closed its latest capital raise, securing a total of $15 million. The investment round was led by TruStage Ventures, with participation from Saluda Grade Ventures, existing investors, and a new investment from a fund within Rockefeller Asset Management.
Barclay Keith, CEO and Co-Founder of Momnt, expressed his enthusiasm about the investment, stating that the company is dedicated to shaping the future of financial technology by providing innovative solutions that empower businesses and customers. With this new capital injection, Momnt is well-positioned to drive transformative changes in lending and financing. Keith also welcomed Rockefeller Asset Management as an investor.
Headquartered in Atlanta, Momnt initially launched its platform in the home improvement industry in 2020. Since then, it has grown to become one of the leading players in point-of-sale financing. The company’s success lies in its ability to provide frictionless experiences for consumers through leveraging the latest technologies.
Sam Das, Managing Director of TruStage Ventures, praised Momnt for its continuous innovation in embedded lending. He mentioned that the company has built strong partnerships with merchants and financial institutions, driven by collaborative efforts and cutting-edge technologies. Das believes that this capital raise will further solidify Momnt’s position as the best-in-class solution for point-of-need financing.
Momnt has experienced significant growth, and the company plans to use the new capital to invest in its people, processes, and technology, further enhancing its already impressive platform. The company has been able to attract top talent, including notable additions such as Mark Satisky as Chief Financial Officer and Dory Black as Chief Legal Officer.
Christopher J. Randazzo, Portfolio Manager at Rockefeller Asset Management, expressed excitement about partnering with Momnt. He believes that the company is revolutionizing the landscape of closed-loop, point-of-sale lending, and enabling small businesses to expand their customer base through low-friction, flexible financing. Randazzo commended Momnt’s industry insights and groundbreaking solutions and emphasized the potential for growth and collaboration in the future.
Momnt’s leadership team is focused on maintaining its strong growth trajectory witnessed over the last four years. In addition to expanding into new verticals to capitalize on industry opportunities, the company also plans to diversify its business horizons through geographic and product expansion. This strategic roadmap aims to propel Momnt forward as a leading player in the financial technology sector.
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