Embedded finance platform Monite has reportedly hired Alex Akimov to serve as Head of API, previously also Head of API of Adyen (in the most recent move as part of its platform scaling strategy).
Somewhat like Adyen, currently capitalized at about $40 billion, Monite’s embedded finance strategy is built on API interconnectivity.
Monite’s embeddable API allows B2B service providers to add finance automation features, like invoicing, accounts payable, and expense management directly into their existing interface.
These embeddable finance management modules provide the potential for any type of business or company to become a ‘Super-app’ environment for their clients.
An early employee at Adyen, Akimov managed to become Head of API in 2019, overseeing APIs that handled over €500 billion in 2021.
He brings to Monite the experience gained from scaling an API-led European Fintech to international prominence.
With this API expert on board, Monite claims that it is set to extend its platform’s capabilities while becoming one of the leading providers of embedded finance automation for B2B platforms, neobanks, and marketplaces.
Akimov, who holds a Masters degree in neural networks and pattern recognition, is focused on creating a seamless developer experience.
At Monite he is responsible for API design, versatile developer tools, simple and comprehensive technical documentation, empowering the developer community and authentic developer relations.
Alex Akimov stated:
“I am excited to join the Monite team. Monite is a truly API-first company that possesses the vision, ambitions and expertise for creating a global fintech API platform. The Monite team is focusing on building a secure, reliable and robust API platform, excelling in every single piece of API design, documentation and developer tooling. It’s a challenge and a pleasure to work on setting a new standard of high-quality APIs, inspired by the success of truly API-first companies like Amazon, Twilio, Adyen, and Stripe. I moved over to Monite because I think this is truly the next big thing.”
He added:
“APIs are everywhere, powering the modern economy and innovation in many areas. And it is in fintech that they are demonstrating the fastest speed and greatest development. While it’s very easy nowadays to create an API, it’s notoriously hard to get it right – bringing together all the technical components like security, scalability, usability and great developer experience. Ability to successfully tackle this complexity is what distinguishes prominent API-first companies from others.”
Ivan Maryasin, Monite’s Co-Founder and CEO remarked:
“Alex’s decision to join Monite validates our ambitions to create a global-scale leader in embedded finance. He has been there and done it with Adyen, one of the world’s most successful fintechs. He is a true API thought leader who travels the world to talk about API-first, and who constantly looks for ways to give back to the API community. Monite gives any organization the opportunity to offer world class finance automation tools on its own platform, or to build out a super app as part of a low-risk winner-takes-all strategy. APIs are the fulcrum in our world and having Alex on board is a fantastic endorsement of our vision.”