Monite Teams up with Codat to Enable Apps to Embed Invoicing and Bill Payments

Embedded finance startup Monite has partnered with the universal API for small business data, Codat, to make it faster and easier to integrate accounts payable and accounts receivable capabilities into existing apps.

Monite and Codat’s partnership enables SaaS platforms and financial institutions to easily and quickly integrate invoicing and billing functionality into their offering, creating a fully connected and unified, one-stop shop for businesses to manage their operations and their finances. The combination of Monite’s APIs for ready-to-run fintech apps and Codat’s API for seamless integration to third party SME apps, creates the potential for rapid launches of new apps that cater to a broad range of SMB needs in one place.

Ivan Maryasin, Monite’s Co-Founder and CEO says, “There is no shortage of great financial apps for SMEs. What’s still missing are the ‘super apps’ that bring everything together - a financial OS created by neobanks or vertical SaaS companies to dominate the SME finance stack.

“Until now, the cost of building that platform was too high, too risky and just diverted capital that could be used elsewhere, draining resources and detracting from opportunities to scale and develop core value propositions. With Codat’s powerful integrations now pre-built into Monite’s finance automation modules, customers of either company can get to market rapidly, saving time and money along the way, with great new apps or platforms that create a new level finance workflow automation.”

Codat’s API enables providers to connect to major apps relevant to small businesses, such as Quickbooks, Oracle Netsuite, Xero, Square, Shopify, and Sage. The London-founded company has over 200 clients, including many of the world's largest banks as well as rapidly growing fintechs from around the globe.

Monite is a finance automation provider targeting organizations considering offering fintech solutions but who do not want to incur the cost and risk of internal development. Its offerings enable B2B brands to embed new finance features directly into their existing interface. Monite’s embeddable API platform allows brands to offer the functionality of specialized financial products within their own interface and serve all their customers’ business finance needs from a single platform.