Montonio is building the payment and checkout solution to rule them all

Montonio is an e-commerce checkout solution created by a small startup. The company just raised a $12 million Series A funding round. It wants to be your only tech partner.

Montonio is a multi-faceted product that has been specifically designed for its home market and its neighbor countries, but the startup thinks it could work all around Europe. The company facilitates payments, integrates with several payment methods, and handles delivery and refunds.

Montonio handles payments directly when it is time to buy something online. The startup supports card payments. Many people around the world are already using different methods to pay for their goods and services.

Montonio becomes interesting here. Customers in the Baltics initiate payments directly from their bank accounts. Montonio can initiate payments at a lower cost by building out open banking connections.

The company has more control over the process thanks to the development of these integrations in house. Montonio charges a fee if customers choose to pay using payment links. It is much cheaper than card payments.

Montonio supports major banks in several countries. Poland is going to be the focus of the startup.

Once you build a startup that handles payments, you want to build a startup that handles refunds as well. Montonio customers can process refunds.

When a payment is made, you want to generate an order number and start deliveries. Montonio queries delivery providers to generate labels. When necessary, the product can be used to generate return labels.

Once you click the purchase button, Montonio wants to become a one-stop shop for everything. The post-checkout experience is called by the company. Montonio can act as an Aggregator for different financing solutions.

We are building multi-threading in our product for each service. Montonio co-founder and CEO Markus Lember told me that they have multiple partners.

Small and medium retailers don't want to pay too much to process payments, so they could pay for additional services and a simple product that replaces a patchwork of payment and e-commerce services. Montonio offers a number of different types of software. There is a programming interface for custom integrations.

Around half of online shoppers in Estonia have interacted with Montonio. It will be interesting to see if the company can reproduce the same numbers in other markets.

The team is very technical and very Agile. The roof has organic traction. Montonio is anticipating a shift in market trends that will open up the market.

Jan Hammer from Index Venture and the former managing director of Adyen are joining the board. Tera, ffVC and Superangel were previous investors.