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Payments startup Monavate raises £5m

Payments startup Monavate raises £5m

UK startup Monavate has raised £5 million for its technology-enabled, compliance and card scheme sponsorship platform.

The seed funding, which comes from an unnamed US institutional investor, will be used to develop the Monavate platform, which promises to help companies launch financial products quickly, easily and cost-effectively.

It will also enable the Cambridge-based, FCA-regulated fintech to accelerate its global expansion in the card issuing and ATM space.

Leeandrajae Vaile, CEO, Monavate, says: “There’s no shortage of great ideas to help consumers and businesses spend, save and invest smarter. And no shortage of investment in fintech either.

"However, getting great ideas to market is still a major pain point. That’s why Monavate was formed, and why we’re already making a difference.”

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