Monit, Indonesia’s leading spend management platform, has raised $2.5 million in a funding round led by Cento Ventures, with strategic participation from Sansan, a Japanese leader in business to business (B2B) digital transformation.
Monit said in a statement on Tuesday that the existing backers 1982 Ventures and Init 6 also joined the round, reaffirming their continued support.
The new capital will be strategically deployed to enhance Monit’s product suite, with a particular focus on expanding its artificial intelligence (AI) and machine learning capabilities to deliver predictive insights and further automate financial operations.
The company also plans to expand leadership and sales teams to support its growth and begin executing its strategy for regional expansion into key Southeast Asian markets.
“This new funding allows us to deepen our enterprise capabilities and solidify our position as the market leader,” said Rizki Aditya, Co-founder and Chief Executive Officer of Monit.
“Mid to large companies in Indonesia are navigating an increasingly complex operational landscape. They are held back by manual, fragmented, and opaque financial processes that directly impact their bottom line,
“Our platform is purpose-built to solve these challenges, providing the visibility and automation that modern finance teams need,” he added.
Founded in 2022 by engineer Rizki Aditya, Monit helps businesses modernize banking and spend control.
The company serves nearly 1,000 Indonesian businesses, including Ciputra Group, with software that integrates seamlessly into existing workflows.
Monit also partners with licensed financial institutions to deliver safe, compliant financial services.
“Monit is tackling a critical gap in Indonesia’s financial infrastructure,
“Their disciplined execution and deep enterprise focus position them to build a category-defining company in Southeast Asia,” said Boon Ping Chua, Partner at Cento Ventures.
Muneyuki Hashimoto, Director, Executive Officer, and Chief Financial Officer at Sansan, said the firm is excited to support Monit as they bring much-needed efficiency to Indonesia’s enterprise sector.
“Their mission aligns closely with our vision for becoming business infrastructure,” he added.
Scott Krivokopich, Managing Partner at 1982 Ventures, also said the firm has backed Monit from the start.
“Unlike their overfunded competitors, they’ve scaled fast without burning cash. We’re thrilled to double down,” he added.
Achmad Zaky, Founding Partner Init-6 Ventures said the firm backed Monit from the very beginning because it saw a solid combination of clarity, discipline, and deep local insight in the founding team.
“Monit is not just growing fast—it’s solving a real, complex pain point for Indonesian enterprises in an efficient way to manage their day to day finance process,
“We’re proud to see growth and fully support this funding round, and we believe this is just the beginning of their impact across the region,” he added.