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Monoova

“Can a single API-first payments infrastructure provider become the complete payments operating system for Australian businesses — handling domestic rails, virtual accounts, ledger management, FX, and open banking in one platform?”

Founded2017
HQSydney, New South Wales, Australia
IndustryInfrastructure / Payments
The story

Founded in 2017 as a B2B payments infrastructure company in Australia, Monoova built its core around API-driven account-to-account payment rails including NPP/Osko, BPAY, Direct Credit and Direct Debit. The company evolved from a domestic payments provider into a more comprehensive payments operating system offering virtual accounts (mAccounts), ledger infrastructure, FX settlement via the FX Hub, and card payment capabilities. Its partnership with TrueLayer marks a strategic expansion into open banking-powered payment initiation in Australia, positioning Monoova as an embedded finance payments backbone for fintechs, lenders, insurers, and payroll providers.

Last 12 months
2024
2025-09
Product timeline
2017
Founded as a payments infrastructure company, providing API-based account-to-account payment solutions for Australian businesses.· pivot
2022
Awarded Fintech Organisation of the Year 2022; launched PayTo at scale as one of first providers on the New Payments Platform (NPP).· banking
2023
Launched Monoova FX Hub, integrating domestic AUD collections with international disbursements for cross-border payments.· banking
2024
Partnered with TrueLayer to launch data-enabled payments in Australia, integrating open banking capabilities.· banking
2025
Partnered with Brolly (peer-to-peer lending platform) to power community-driven lending payment flows using Managed Ledger and PayTo.· banking
Regulated entities
1
regulatory licence held by Monoova
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Monoova’s embedded-finance stack
Payments / PSP
Monoova Payments (self-operated)
Open banking
in the full report
Accounting gap: minor
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.