What Monit does

Monit (PT Monit Teknologi Indonesia) is an Indonesian B2B fintech operating a cloud-based, unified spend management platform for Indonesian SMBs, mid-market companies, and select enterprise groups. Founded in 2022 and headquartered in Jakarta, the platform integrates a business giro account (provided via partner bank BCA Digital with ~2% yield on balances), virtual and physical corporate cards (issued under Mastercard and Visa), expense management with OCR receipt capture and AI-driven categorization, employee reimbursements, accounts payable automation, QRIS payments, batch payments, multi-entity management, and international transfers. Native integrations with Xero, NetSuite, Accurate, and Google Workspace synchronize transactions in real time, and the platform exposes a developer API for custom workflows.

The company monetizes through a hybrid model: a subscription tier anchored by the IDR 499,000/month Standard plan (covering two finance users and three employee users) plus usage-based fees for transfers, QRIS, card issuance, and replacements, supplemented by float income on insured giro balances. Go-to-market is product-led and self-serve with online onboarding enabling giro account opening in under a week, supported by content marketing (free tax calculator and Southeast Asia investor database as SEO anchors) and partner referrals.

Monit serves over 1,000 Indonesian businesses across at least 10 verticals, including Ciputra Group, NTT Data, Astro, Evermos, Wagely, Nanovest, Kami, Alterra, Bababos, and Button Scarves. The company has raised a $2.5 million Series A (June 2025) led by Cento Ventures with Sansan, 1982 Ventures, and Init-6 Ventures, and has been recognized on Forbes Asia's 100 To Watch 2025 and Tech in Asia's 50 Rising Startups Indonesia. Strategic use of proceeds targets deeper AI capabilities and Southeast Asian regional expansion beyond Indonesia.

Name

Monit

Legal name

PT Monit Teknologi Indonesia

Website

https://monitpay.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Monit is an Indonesian B2B fintech providing a unified spend management platform — combining giro accounts, corporate cards, expense management, AP, and reimbursements — for over 1,000 SMBs and mid-market businesses in Indonesia, with native accounting integrations and regional expansion underway.

Ownership category

akta.pro rank

Product category

Business Spend Management Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Expense Management & Employee Reimbursements (FSAGAJAE)

akta.pro secondary industries

Invoicing, Billing & Accounts Receivable Automation (FSAGAJAC), Treasury, Cash Management & Liquidity (SME) (FSAGAJAG), Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace) (FSAGAKAC)

Keywords

• Corporate spend management
• Business banking platform
• Expense management software
• Accounts payable automation
• Corporate card issuance

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Subscription Revenue: Monthly subscription fee of IDR 499,000 for the Standard plan, which includes core features like business giro account, unlimited virtual and physical cards, expense management, and accounting integrations. Additional charges for extra users, cards, and transfers.
2. Transaction Fees: Fees charged per transaction including local transfers (IDR 2,500 per transfer), international transfers (starting at 0.5% + flat fee), QRIS payments (1% max IDR 2,500), card rejections (IDR 6,000), and ATM withdrawals (IDR 5,000).
3. Card Fees: Revenue from issuing new virtual cards (IDR 40,000 per card), physical cards (IDR 150,000 per card), and card replacements (IDR 75,000 per card).
4. Interest on Balances: Monit earns interest on customer giro account balances (~2% yield), with customers receiving competitive interest rates while Monit benefits from float on deposited funds.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Monit is a unified B2B spend management platform that combines business giro accounts, virtual and physical corporate debit cards, expense management, reimbursements, and accounts payable automation into a single system for Indonesian SMBs. Customers get a business giro in under a week through self-serve onboarding, instant card issuance, real-time transaction visibility, AI-powered expense categorization, and native integrations with Xero, NetSuite, and Accurate accounting platforms. The platform generates revenue through monthly subscriptions, transaction fees, card issuance fees, and interest on customer balances.

Product overview

Monit is a unified spend management platform for Indonesian businesses, built as a platform-plus-modules architecture centered on a Business Giro account core product. The platform combines business banking (giro accounts with ~2% yield), corporate cards (virtual and physical), and comprehensive expense management capabilities. The core module suite includes Expense Management, Reimbursement, Account Payable, QRIS Pay, International Payment, Batch Payment, and Multi-Entity Management. Additional modules provide specialized functionality for Business Travel, Cash Management (Branch Wallets), Software Subscription Management, and Marketing Spend Management. Supporting features include Spend Control and Better Visibility modules for finance team oversight, plus Accounting Integration connecting to Xero, NetSuite, and Accurate. Free utility tools include an Investor Database and Tax Calculator. The platform targets SMBs with online onboarding and serves over 1,000 Indonesian businesses, with strategic partnerships with Mastercard and BCA Digital.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Giro Account Business giro account provided in partnership with BCA Digital, offering ~2% yield on balances, real-time visibility, and built-in virtual and physical card capabilities. Insured by LPS (Lembaga Penjamin Simpanan).
• Business Debit Card Smart corporate debit cards (virtual and physical) with real-time transaction tracking, customizable spending limits, merchant locks, and instant freeze/cancel capabilities. Issued via Mastercard and Visa partnerships.
• Expense Management Automated expense tracking platform with custom approval workflows, receipt scanning via mobile app, automated categorization, and accounting integration for faster month-end closing.
• Reimbursement Employee expense reimbursement system with mobile receipt capture, streamlined approval workflows, and bulk payment processing enabling 75% faster reimbursement processing.
• Accounts Payable Accounts payable automation platform with OCR-powered invoice capture, custom approval workflows, local and multi-currency payment processing, and automated bookkeeping integration.
• QRIS Pay QRIS payment solution enabling team payments at millions of QRIS-enabled merchants across Indonesia with real-time visibility, spending controls, and automatic reconciliation.
• International Payment Global vendor payment service offering competitive exchange rates, transparent fees, and real-time processing for international transfers with multi-currency support.
• Batch Payment Bulk payment processing solution allowing hundreds of vendor payments in minutes with CSV/Excel template upload, custom approval workflows, and real-time payment status tracking.
• Multi-Entity Management Multi-entity platform enabling management of multiple business entities from a single dashboard with centralized control, unified reporting, and entity-specific user permissions.
• Accounting Integration Native integrations with leading accounting platforms (Xero, NetSuite, Accurate) enabling real-time transaction sync, automated categorization, and reconciliation with continuous book updates.

Quantifiable outcome

• 20 hours of manual admin work reduced per week for finance teams
• +10 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability6 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• CIMB NiagaminorOthers · 10 February 2022Indonesian bank partnership for payment processing and giro account services, part of Monit's early strategic partnerships to expand product offerings.
• United Overseas BankminorOthers · 10 February 2022Regional bank partnership for payment processing and potentially international payment services, supporting Monit's expansion plans.
• BCA DigitalcoreOthersPT Bank Digital BCA provides the giro account infrastructure for Monit's business accounts. BCA Digital is a member of LPS (Lembaga Penjamin Simpanan) and regulated by OJK and BI. This partnership enables Monit to offer insured business giro accounts with ~2% yield.
• MastercardcoreTechnology or IntegrationMonit partners with Mastercard to provide virtual and physical debit cards with worldwide payment coverage. The Monit Mastercard Virtual and Physical Cards are issued in Indonesia by partner bank, Member LPS, enabling both local and international transactions.
• XerocoreTechnology or IntegrationNative integration with Xero accounting software enables real-time synchronization of transactions, automated expense categorization, and seamless bookkeeping. Users can export data directly to Xero for streamlined reconciliation.
• NetSuitecoreTechnology or IntegrationNative integration with Oracle NetSuite enables automated sync of transactions and expenses to the ERP system, supporting enterprise customers with complex accounting needs.
• AccuratecoreTechnology or IntegrationNative integration with Accurate, a popular Indonesian accounting software, enables local businesses to sync Monit transactions directly into their accounting workflows.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Aspire: Singapore-headquartered all-in-one finance platform offering business accounts, corporate cards, expense management, and AP automation for SMBs across SE Asia. Most direct comparable to Monit in product scope and SMB focus.
• Xendit: Indonesia and SE Asia-focused payment infrastructure provider serving SMBs and enterprises with payment processing, disbursements, and account services. Overlaps with Monit on Indonesian SMB payments and card-adjacent services.
• Dana: Indonesia-leading digital wallet with QRIS payments and merchant services. Competes with Monit for Indonesian SMB payment flows, especially QRIS-based business spending.
• Kredivo: Indonesian fintech serving consumers and SMBs with credit, payments, and merchant services. Overlaps with Monit on Indonesian SMB financial workflows, though with stronger credit/pay-later orientation.
• Akulaku: Indonesia and SE Asia fintech operating BNPL, virtual cards, and merchant financing for consumers and SMBs. Overlaps with Monit on card issuance and SMB payment products in Indonesia.

Broad incumbents

• Airwallex: Regional fintech offering multi-currency business accounts, corporate cards, and expense tools for SMEs. Comparable in cross-border payments and spend management, though operating at much larger scale and broader geographic footprint.
• Grab Financial Group: SE Asia super-app financial services arm offering payments, lending, and merchant solutions to SMBs across the region. Broad incumbent that overlaps with Monit's SMB-facing fintech services in Indonesia and other markets.
• Brex: Global spend management platform combining corporate cards, expense, AP, and travel for startups and SMBs. Comparable product architecture and customer use cases, though focused on US/global markets.
• Ramp: US spend management platform offering corporate cards, expense management, bill pay, and automation. Direct product parallel to Monit's stack, though Ramp is much larger and US-focused.

Regional players

• OVO: Indonesia-focused digital wallet and payment platform with QRIS and merchant services. Competes with Monit for Indonesian SMB payment acceptance and wallet-driven spend workflows.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat6 records

Key risks2 records

Customer concentration

• LinkedInlinkedin.com/company/monitpay
• Instagraminstagram.com/monit.idn
• Facebookfacebook.com/Monitpay-100087072311422

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Monit