Monit lands $2.5m to reshape enterprise spend management in Indonesia

Indonesia-based fintech firm Monit has raised US$2.5 million in fresh capital to address fragmented and inefficient enterprise spend management. The round was led by Singapore-based Cento Ventures, with strategic participation from Sansan, the Japanese B2B software company. Existing investors 1982 Ventures and Init 6 doubled down on their bets.

Founded in 2022 by engineer-turned-founder Rizki Aditya (pictured, front left), Monit combines corporate cards with AI-powered software to bring automation, visibility, and control to large businesses struggling with outdated financial operations.

The new funding will go toward enhancing Monit’s AI and machine learning capabilities, expanding its leadership and sales teams, and setting the foundation for regional growth. While Indonesia remains its core market, Monit is now eyeing other Southeast Asian economies where large enterprises face similar bottlenecks in managing spend.

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“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,” said Aditya. “Our platform is purpose-built to solve these challenges, providing the visibility and automation that modern finance teams need.”

Monit’s growth numbers are noteworthy. Since launch, it has processed over US$200 million in total payment volume and expects to hit an annualised US$1.4 billion by 2026. Nearly 1,000 businesses now use the platform, with a client list that includes names such as Ciputra Group. The company claims a fivefold increase in year-over-year revenue.

The startup is positioning itself as a smarter alternative to traditional corporate banking. In Indonesia, where the card payments market is forecasted to reach US$87 billion by 2029, financial infrastructure for enterprises still lags behind. Many corporates face tight restrictions, limited access to credit, and a lack of centralised tools - leading to costly leakages and invisible spending patterns.

“Monit is tackling a critical gap in Indonesia’s financial infrastructure,” said Boon Ping Chua, partner at Cento Ventures. “Their disciplined execution and deep enterprise focus position them to build a category-defining company in Southeast Asia.”

Backing from Sansan marks a strategic alignment, as the Japanese firm is known for pushing digital transformation in the B2B segment. “We’re 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,” said Muneyuki Hashimoto, CFO at Sansan.

Monit’s founding team has also won continued confidence from early believers. “We backed Monit from the very beginning because we saw a solid combination of clarity, discipline, and deep local insight in the founding team,” said Init 6’s Achmad Zaky. “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.”

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