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Brian Lanehart, Co-Founder and PresidentWith future-forward developments in embedded financial technology, fintech now has an answer to this need. An outcome of fintech digitization, embedded finance can streamline financial processes for consumers, helping them access the services they need in real-time. Today, businesses use embedded finance—especially embedded credit—to engage finance on a new level by integrating financial mechanisms into their overall business plan.
As a result, the era of embedded finance is gaining prominence as the way of the future, where all consumers have easy and equal access to finance.
A leader in the space is Momnt, an embedded credit solution provider specializing in offering low-friction, affordable financing to customers at the point of need. The company is best known for its ability to make embedded lending simple, fast, and affordable with its unsecured consumer installment loans, primarily catering to home improvement and elective healthcare industries.
Innovative lending programs by Momnt can revolutionize a brand’s business model, allowing them to deliver affordable financial services to customers and increase their revenue. These offerings can help strengthen the relationships with loyal customers and provide brands with an edge of reduced customer acquisition costs. Using Momnt’s embedded lending services is fueling a new economy through brands, ensuring better financial inclusion for consumers. By eliminating barriers imposed by banks, clients can democratize financial services and expand financial inclusion with Momnt.
Momnt encases all these capabilities into its tech-driven, APIbased platform that seamlessly connects merchants, lenders, and consumers for the easy disposal of loans at the point of need. AI and machine learning can enhance lending by providing lenders with insight into customer behavior and preferences. Lenders can reach customers using the Momnt platform that excels at offering realtime visibility into financial processes while managing lenders’ complex risk appetites—all in real-time.
“We’re a multi-lender company on the back-end; our wide network of lenders allows us to distribute the risk and ensure the continuity of programs,” says Brian Lanehart, co-founder, and president at Momnt.
Momnt is also unique in its Vertical-agnostic platform design, which helps clients regardless of their vertical. As a result, the platform can provide easy and seamless access to the company’s financial services. Not stopping here, being API-driven, the Momnt platform integrates with merchants’ workflows without any hassles. Clients can embed the solution and its financial services into their customer-facing CRM and ERP platforms, giving them a competitive advantage. This makes the systems more attractive with lower friction.
The right blend of Momnt’s API-driven platform, multi-lender network, and vertical-agnostic capabilities makes it a go-to partner for a wide range of clients. With its business model built around the notion of customer-centricity, the company’s platform and lending solutions are built to keep their stakeholders’—lenders, borrowers, and merchants—best interests at heart. The platform is therefore easy to use, highly secure, and compliant with laws and regulations.
Serving as a trusted portfolio distribution partner, Momnt extends lenders’ market reach by enabling them to go national and execute a swift customer onboarding and realtime approval. This makes decisions instant and onboarding efficient.
As a Technology Association of Georgia (TAG)-certified innovation-driven company, Momnt constantly adds features to its platform and service offerings, thanks to its team of experts well-versed in keeping tabs on industry trends, latest technologies, and market needs. The company is now exploring secured lending and increasing the loan size while also adding new security features to its platform.
We’re a multi-lender company on the back-end; our wide network of lenders allows us to distribute the risk and ensure the continuity of programs, no matter what
Needless to say, Momnt is quickly adapting to the changing market and consistently delivering excellence to lenders, merchants, and borrowers.
Momnt Announces New $15 Million Investment, Continues to Drive Fintech Innovation
Thursday, October 19, 2023
ATLANTA --Momnt, a leading fintech company specializing in real-time lending and payment solutions for businesses, is announcing the closing of its latest capital raise, totaling $15 million. TruStage Ventures led the investment with participation from Saluda Grade Ventures, existing investors, and a new investment from a fund within Rockefeller Asset Management.
“Momnt is committed to shaping the future of financial technology by providing innovative solutions that empower businesses and customers alike," said Barclay Keith, CEO and Co-Founder of Momnt. "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."
Headquartered in Atlanta, Momnt launched its platform in 2020 in the home improvement industry and has since grown to become one of the preeminent market leaders in point-of-sale financing.
“Momnt has been at the forefront of embedded lending innovation since its inception,” said Sam Das, Managing Director of TruStage Ventures. “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.”
Momnt has continued to grow the team fueled by its organic growth and the $16.5 million of capital raised in prior rounds from investors, including Yamaha Motor Ventures, Saluda Grade Ventures, and TruStage Ventures. Among the notable additions are Mark Satisky, who assumed the role of Chief Financial Officer, and Dory Black, who joined as Chief Legal Officer. Momnt will utilize the new capital to continue investing in its people, processes, and technology, further improving Momnt’s best-in-class platform.
“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. Barclay Keith and the Momnt team have consistently demonstrated their deep industry insights and groundbreaking solutions, and we look forward to collaborating with them as they embark on their exciting journey of growth ahead."
Momnt's leadership team is committed to maintaining the strong growth trajectory witnessed over the last four years. The company is looking to extend its presence into new verticals, capitalizing on industry opportunities. Simultaneously, as Momnt diversifies its business horizons, geographic and product expansion are also on the roadmap.
In addition to its business growth, Momnt has been recognized for its company culture, earning a spot on Inc. Magazine’s annual Best Workplaces list for 2023. Momnt was also named to Atlanta Business Chronicle’s 2023 Best Places to Work List. Additionally, Built In awarded Momnt a Best Place to Work in Atlanta in 2023, and a Best Midsize Place to Work in Atlanta in 2023 by Built In. The VIBE Awards also named Momnt as a best company to work for in the following categories: Health & Wellness, Office Life & Perks, Parental Benefits, Professional Development, and Vacation/Time Off.
Innovation Insights
How we're transforming embedded lending for the "Momnt" of Need
Brian Lanehart, Co-Founder and President, Momnt
An embedded lending solution should help merchants convert prospects to customers quickly and securely while giving those prospects multiple options to pay in a manner that best suits their needs.
Company
Momnt
Management
Brian Lanehart, Co-Founder and President
Description
Momnt is an embedded finance solution provider that specializes in offering low-friction, affordable financing to customers at the point of need. The company is best known for its ability to make embedded lending simple, fast, and affordable with its unsecured consumer installment loans, primarily catering to home improvement and elective healthcare industries.
