Indonesia’s spend management platform Monit has raised $2.5 million in a funding round led by Cento Ventures, with participation from Japanese B2B digital transformation leader Sansan. Existing investors 1982 Ventures and Init 6 also joined the round, according to an announcement on Tuesday.
The capital will be used to strengthen Monit’s AI-powered product suite, enhance predictive insights, and automate financial workflows. Monit also plans to grow its leadership and sales teams while preparing to expand into key Southeast Asian markets.
This funding comes as Indonesia’s digital payments sector continues to surge. Card payment volume is projected to reach $87 billion by 2029, while QRIS transaction value has jumped 192% to $36 billion. Despite these gains, many businesses still lack access to efficient card-based solutions due to outdated processes and limited financial tools.
Monit addresses these gaps with a platform that combines corporate cards and intelligent software, giving businesses real-time control over spending, budgeting, and expense tracking. Since its launch, Monit has processed over $200 million in total payment volume and is on track to reach $1.4 billion by 2026. The company has grown revenue fivefold year-over-year and now serves nearly 1,000 businesses, primarily in the enterprise segment.
“Mid to large companies are still held back by fragmented and manual finance operations,” said Rizki Aditya, Co-founder and CEO of Monit said in a statement. “This funding helps us deepen our capabilities and scale our impact across the region.”
Boon Ping Chua, Partner at Cento Ventures, added: “Monit is closing a critical gap in Indonesia’s financial infrastructure with focused, disciplined execution.”
Muneyuki Hashimoto, CFO at Sansan, said the company supports Monit’s mission to bring efficiency to the enterprise sector, aligning with Sansan’s broader vision of building business infrastructure in Southeast Asia.
