Estonian fintech Montonio has raised €500K in a pre-seed investment round to enhance its point-of-sale financing platform that offers consumers multiple installment options and aims to expand into larger European markets.

Information on the Target

Founded in 2018, Montonio is an innovative Estonian fintech company that specializes in providing point-of-sale financing solutions. The platform enables online shoppers to access multiple installment offers from various creditors through a single credit application, allowing them to select the most suitable option. Unlike traditional hire purchase providers such as Klarna, Montonio does not extend credit directly but acts as a marketplace for credit options available through its partner creditors.

Montonio addresses the challenges faced by consumers in accessing diverse financing options by submitting customer credit applications to several associated creditors. This competitive approach improves the chances of users receiving favorable credit offers, with Montonio currently reporting an 85% positive decision rate, significantly higher than the market average of 50-60%.

Industry Overview in Estonia

Estonia's fintech sector is experiencing rapid growth, fueled by a supportive regulatory environment and a tech-savvy population. As a digital society, Estonia has embraced ele