Montonio has secured €500,000 in capital from Gorilla Capital, Practica Capital and angel investors

Montonio, a Talinn, Estonia-based financial service startup company, announced the completion of a €500k ($572k) in pre seed capital

The funding was provided by Finland’s Gorilla Capital, Practica Capital from Lithuania, Super angel from Estonia, and a range of angel investors, including Jevgeni Kabanov, the CPO at Bolt, Charlie Songhurst from Katana Capital, Triin Hertmann (former COO at TransferWise) and Martin Sokk (first head of product at TransferWise).

Montonio, founded in 2018 by CEO Markus Lember, offers a point of sales (POS) financing platform that lets online shoppers access various installment offers from competing creditors. Consumers only have to fill out one credit application, in order to potentially qualify for these offers.