New York-based fintech start-up Monk has raised $25 million in a Series A funding round as it looks to scale its AI-powered accounts receivable platform. The round was co-led by Footwork and Acrew Capital, with continued participation from Better Tomorrow Ventures (BTV).
The company has now secured a total of $29 million in funding within less than a year, following its emergence from stealth six months ago with a $4 million seed round led by BTV. Additional backing includes GTMfund and Rerail founder Anthony Danon.
Automating the contract-to-cash lifecycle
Monk is building a platform designed to automate the full B2B accounts receivable process, focusing on the contract-to-cash lifecycle. Its solution integrates AI, real-time tracking, and workflow automation to streamline invoicing, payment collection, and administrative operations that are traditionally manual and time-consuming.
By reducing friction across these processes, the platform aims to improve cash flow visibility and operational efficiency for businesses managing recurring or complex revenue streams.
According to the company, the newly raised capital will be used to further invest in research and development, with a strong focus on improving the accuracy and reliability of AI systems handling financial transactions.
Early traction and product focus
Founded by George Kurdin and Joe Zhou, Monk has already begun onboarding a number of high-growth technology companies, including ElevenLabs, Profound, and Siro.
CEO George Kurdin emphasized that the company’s core priority is building AI systems that can operate with a high degree of precision in financial environments, where errors can have direct monetary consequences.
With fresh capital and early customer traction, Monk is positioning itself within the growing category of AI-driven financial operations tools, targeting inefficiencies in back-office finance processes that remain largely underserved by legacy systems.
