Montonio Finance
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| Founded | 2018 |
|---|---|
| Founders | Kristofer Turmen, Markus Lember, Karel Nappus, Henrik Rank, Karl Kristjan Kalluste, Rasmus Õisma |
| Headquarters | Tallinn, Estonia |
Area served | Estonia, Latvia, Lithuania, Poland, Finland |
Key people | Johan Nord (CEO) |
Number of employees | 65 (2026) |
| Website | montonio |
Montonio is an Estonian financial technology company based in Tallinn that provides payment processing, consumer financing, and logistics services to e-commerce merchants in the Baltic states, Poland, and Finland.[1][2] The company was founded in 2018 and holds a payment institution license issued by the Bank of Lithuania.[3]
History
The company was founded in 2018 by Kristofer Turmen, Markus Lember, Karel Nappus, and three other co-founders.[1] It was originally conceived as an e-commerce financing comparison tool that aggregated installment offers from multiple creditors, differentiating it from vertically integrated providers like Klarna that issue credit directly.[4]
In November 2020, Montonio Finance UAB obtained a payment institution license from the Bank of Lithuania (license no. LB002007).[3] The company subsequently pivoted from a financing-only model to a broader e-commerce checkout platform combining payment initiation, card processing, consumer financing, and shipping management.[1]
In April 2022, Montonio raised €11 million in a Series A round led by Index Ventures, with participation from Tera Ventures, ffVC, and Superangel.[1][5][6] The company expanded to Poland in 2022 and to Finland subsequently.[1]
In August 2024, the company appointed Johan Nord, a former executive at Swedish payments company Trustly, as CEO. Co-founder Markus Lember moved to a strategy role.[2]
Recognition
In 2022, Sifted included Montonio in its list of the ten fastest-growing Estonian startups.[7] In 2025, Sifted ranked Montonio among the ten fastest-growing fintechs in the Central and Eastern European region, reporting a two-year compound annual growth rate of 182.53%.[8] The company appeared in the Sifted 250 ranking of Europe's fastest-growing startups in both 2024 and 2025.[9]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "Montonio is building the payment and checkout solution to rule them all". TechCrunch. 12 April 2022. Retrieved 9 February 2026.
- ↑ 2.0 2.1 "Estonia's Montonio triggers leadership change with Johan Nord rising to CEO". FinTech Futures. 8 August 2024. Retrieved 9 February 2026.
- ↑ 3.0 3.1 "Montonio Finance, UAB". Lietuvos bankas. Retrieved 9 February 2026.
- ↑ "Estonian fintech Montonio raises €500K to compete with the traditional installment credit model". EU-Startups. July 2020. Retrieved 10 February 2026.
- ↑ "Estonian fintech startup Montonio raises €11M Series A round led by Index Ventures". Silicon Canals. 12 April 2022. Retrieved 9 February 2026.
- ↑ "Montonio ups the ante, raises €11 million in Index Ventures-led round". Tech.eu. 12 April 2022. Retrieved 9 February 2026.
- ↑ "The 10 fastest-growing Estonian startups in the past 12 months". Sifted. 2022. Retrieved 9 February 2026.
- ↑ "Meet the 10 fastest-growing DACH & CEE fintechs". Sifted. 2025. Retrieved 10 February 2026.
- ↑ "Sifted 250 – Europe's Fastest-Growing Startups 2025". Sifted. 2025. Retrieved 9 February 2026.
External links
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