
Monito
Comparing the rates of money transfer operators and banks.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor | €0.0 | round |
investor | €0.0 | round | |
N/A | €0.0 | round | |
investor | €0.0 | round | |
investor | €0.0 | round | |
N/A | €0.0 | round | |
investor | €0.0 | round | |
investor | €0.0 | round | |
* | $2.5m | Series A | |
Total Funding | 000k |
USD | 2019 | 2020 | 2021 | 2023 |
---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 |
% growth | - | 17 % | 87 % | - |
EBITDA | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
Related Content
Monito operates as an online comparison platform for international financial services, with a primary focus on money transfers. The company was established in 2013 in Lausanne, Switzerland, by co-founders François Briod, Laurent Oberholzer, and Pascal Briod. The founders' personal challenges with the high costs of sending money to a non-profit they started in Cameroon directly inspired the creation of the platform.
The firm's core business revolves around a real-time comparison engine that aggregates and analyzes fees and exchange rates from over 450 money transfer operators. This allows users to find the most cost-effective and efficient service for their specific international transactions, potentially saving up to 90% compared to traditional banks. Monito's platform is free for consumers, generating revenue through referral fees from service providers when a user selects a service through the site. This affiliate-based business model allows the company to avoid banner ads and paywalls, ensuring unrestricted access to its content.
Initially launched as TawiPay, the company rebranded to Monito and has since expanded its service comparisons beyond money transfers. The platform now includes reviews and guides for digital bank accounts, travel cards, eSIMs, and travel insurance, positioning itself as a comprehensive financial hub for migrants and international travelers. To ensure impartiality and thoroughness, Monito developed the "Monito Score," a proprietary analytical method that evaluates providers based on over 30 criteria across four categories: trust and credibility, service quality, fees and exchange rates, and customer satisfaction. The company has secured $2.93 million in funding, including a Series A round of $2.5 million in December 2018.
Keywords: international money transfer, remittance comparison, currency exchange, financial services, fintech, online banking reviews, travel finance, cross-border payments, exchange rate comparison, migrant financial services, neobank comparison, travel insurance, digital banking, cost-saving transfers, financial transparency, François Briod, Laurent Oberholzer, Pascal Briod, Switzerland, TawiPay