Embedded lender Momnt secures new $15m investment

Atlanta-based fintech Momnt has secured $15 million of investment in its latest capital raise, led by TruStage Ventures and with new investment from a fund within Rockefeller Asset Management.

Saluda Grade Ventures also participated in the funding round, alongside existing investors.

Momnt specialises in real-time lending and payment solutions for businesses, and launched its platform in 2020, initially in the home improvement sector.

It will use the new capital to continue investing in its people, processes, and technology, the company confirmed.

Barclay Keith, chief executive officer and co-founder of Momnt, said: “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.”

The company has raised $16.5 million of capital in prior rounds from investors, which has funded its growth, to date.

“We’re excited to partner with the Momnt team as they revolutionize the landscape of closed-loop, point-of-sale lending,” said Christopher J. Randazzo, portfolio manager at Rockefeller Asset Management.

“Through Momnt, small businesses can seamlessly broaden their customer base using low-friction, flexible financing, resulting in truly remarkable outcomes.”

Sam Das, managing director of TruStage Ventures, added: “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.”