Estonian startup Monese raising $60M in Series B funding

13.09.2018
In 2014 Estonian Business Angels Network EstBAN welcomed several startups to pitch for their members, and soon following their pitch, 11 of EstBAN’s members chose to invest into the promising mobile-based startup Monese.
Estonian startup Monese raising $60M in Series B funding led by Kinnevik, with participation from PayPal and several other partners is another addition to the success stories of  tiny Estonia's pulsating startup community.

Officially launched in 2015 and claiming nearly 600,000 sign ups in the U.K. and elsewhere in Europe, Monese  consists of a mobile-based current account and an accompanying debit card. It offers most of the things one would expect of a current account, such as an account number, cash deposits, and withdrawals. In addition, international money transfer and direct debits are supported.

"We were impressed by the ability of Norris Koppel, the founder of Monese, to engage radiant people - the way he is converting people into supporting Monese's success, is phenomenal." said Henri Treude, an EstBAN member who chose to invest into Monese after the team pitched for EstBAN's investors in 2014.

"Getting Paypal and Kinnevik on board shows that in addition to the faith in Norris' charisma, the customers have also fell in love with the product," concluded Treude.

EstBAN is continuously facilitating the connections between its members and promising startups in the region, therefore contributing into the development and growth of the Estonian startup ecosystem. Having more than 120 members, we are encouraging new investors to join the network to work together and contribute towards the success of #estonianmafia.
And in case you are looking to be the next Monese, we are always looking for new startups to invest in.