Montonio is a payment and shipping solutions provider based in Tallinn, Estonia. Their platform primarily focuses on e-commerce businesses, offering a comprehensive set of services to streamline the checkout process, including various payment methods and shipping services. Recently, the company has started rolling out BNPL solutions in Estonia, with plans to expand to additional markets in the near future. Since raising their Series A in 2022, the company has been rapidly acquiring new customers.

Challenge

Montonio provides a broad range of services that enable ecommerce businesses to offer a seamless shopping experience, including payments, refunds, shipping, and BNPL services. With the company quickly expanding its product portfolio and onboarding new customers, they recognized that their internal pricing service and billing setup would require additional features and maintenance as the sophistication of their pricing and invoicing operations scales.

Sending invoices was rapidly becoming a pain point for their finance teams, quickly generating operational overhead as the company added more products and merchants. With more customers based across Europe, Montonio also had to deal with additional complexity around multiple billing entities and managing billing across multiple currencies.

The team started looking for a solution that would create a single source of truth, used across departments including product, finance, and sales — while offering the flexibility they needed to continue evolving their offering and enabling their sales team to incentivize deals and grow revenue faster. Among the options considered were continuing to build out their homegrown solution or leveraging a billing platform like Solvimon. It was important to find a solution that could address their current pain points and support their future ambitions.

Solution

After carefully considering their options, Montonio decided to proceed with Solvimon. They felt that Solvimon's platform was the best choice based on advanced features for subscription fees, minimum invoices, percentage-based pricing on transactions, and more. The team was impressed during the product demo, in which the Solvimon team showcased their expertise and experience in billing and monetization. It became clear that Montonio's team could leverage Solvimon as a single platform for pricing, invoicing, and billing, offering the most flexibility to make changes and propagate them across their existing finance and data tooling, creating a single source of truth.

Solvimon's team worked closely with Montonio to get them up and running. During this process, the Montonio team shared how much they appreciated Solvimon's way of working, customer focus, and close collaboration.

"Working with Solvimon feels like having colleagues just working from another office. They deeply understand which problems we are looking to solve today and in the future. It's been a pleasure to work and collaborate with them."

— Mike Oliinyk, VP of Product

Montonio now uses Solvimon's platform to power their pricing and billing processes, covering multiple billing entities and managing invoicing using multiple currencies seamlessly. They've also started leveraging Solvimon's Cost Prediction feature, which supports event-level cost prediction for payment processing. Since switching to Solvimon, the Montonio team has been able to reduce their maintenance costs and engineering requirements, improve the accuracy of their billing services, and increase pricing flexibility for their commercial teams, unlocking more short-term and long-term growth.

Impact

Within their first month of going live on the Solvimon platform, Montonio started sending over 10,000 monthly invoices and saw a significant decrease in operational overhead. Invoice-related support issues were reduced by 35%. Additionally, Montonio has been able to ramp up their commercial activity by taking advantage of Solvimon's pricing flexibility and payment-related features.