“Can a Baltic open-banking checkout company become the full financial and logistics operating system for SMB e-commerce merchants across Estonia, Latvia, Lithuania, and Poland?”
Founded in 2018 in Estonia, Montonio began as a checkout and payment initiation solution focused on Baltic e-commerce markets. The company expanded from open banking / PIS payments into card payments, BLIK (Poland), shipping logistics, and embedded BNPL/financing — becoming an all-in-one checkout-and-logistics platform for SMB online merchants. Its most recent moves include replacing Stripe with Adyen for card processing and launching revenue-based merchant financing, signaling a push toward becoming a merchant financial OS in the Baltics and Poland.
Montonio processes payments through Adyen and Montonio Finance UAB (self-operated, payment initiation).
Montonio connects to bank accounts through Episode Six.
The Embedded Finance Index 2026 maps 3 layers in Montonio's stack: Payments / PSP (Adyen and Montonio Finance UAB (self-operated, payment initiation)); Lending (Merchant Growth Financing (revenue-based, up to €100,000), Pay Later (interest-free installments, 1–3 parts) and Flexible financing (3–72 months installments via Inbank)); Open banking (Episode Six).
Montonio is founded in 2018 and headquartered in Tallinn, Estonia.
Montonio has raised $16.0M in total.
Get a read on where your own stack stands against Montonio and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.