Momnt, a Fintech company specializing in real-time lending and payment solutions for businesses, is announcing the closing of its latest capital raise, “totaling $15 million.”
TruStage Ventures led the investment round “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, said:
“Momnt is committed to shaping the future of financial technology by providing innovative solutions that empower businesses and customers alike. With this investment, we are better poised than ever to drive transformative changes in lending and financing and we’re excited to welcome Rockefeller Asset Management as an investor.”
Headquartered in Atlanta, Momnt launched its platform “in 2020 in the home improvement industry and has since grown to become one of the preeminent market leaders in point-of-sale financing.”
Sam Das, Managing Director of TruStage Ventures, said:
“Momnt has been at the forefront of embedded lending innovation since its inception. The team has proven to be a collaborative partner to its merchants and financial institutions, built on a foundation of leveraging the latest technologies to drive frictionless experiences for consumers. This capital raise will further establish Momnt as the best-in-class solution for point-of-need financing now and well into the future.”
Momnt has continued to grow the team “fueled by its organic growth and the $16.5 million of capital raised in prior rounds from investors, including Yamaha Motor Ventures, Saluda Grade Ventures, and TruStage Ventures.”
Among the notable additions are Mark Satisky, “who assumed the role of Chief Financial Officer, and Dory Black, who joined as Chief Legal Officer.” Momnt will utilize “the new capital to continue investing in its people, processes, and technology, further improving Momnt’s best-in-class platform.”
Christopher J. Randazzo, Portfolio Manager at Rockefeller Asset Management, said:
“We’re excited to partner with the Momnt team as they revolutionize the landscape of closed-loop, point-of-sale lending. Through Momnt, small businesses can seamlessly broaden their customer base using low-friction, flexible financing, resulting in truly remarkable outcomes. Barclay Keith and the Momnt team have consistently demonstrated their deep industry insights and groundbreaking solutions, and we look forward to collaborating with them as they embark on their exciting journey of growth ahead.”
Momnt’s leadership team is committed “to maintaining the strong growth trajectory witnessed over the last four years.”
The company is looking to “extend its presence into new verticals, capitalizing on industry opportunities.” Simultaneously, as Momnt diversifies its business horizons, geographic and product expansion “are also on the roadmap.”