“Can Shopmonkey become the financial OS for auto repair shops by layering payments, capital, and accounting on top of shop management SaaS?”
Shopmonkey started in 2016 as pure SaaS shop management software for independent auto repair businesses. From day one it partnered with Stripe Connect to embed payments into its workflow — payments became a strategic monetization layer, not just a feature. Over the last two years the company has expanded aggressively into embedded finance: Shopmonkey Capital (Stripe Capital) for merchant financing, a native Accounting product to compete with QuickBooks, and a Bookkeeping service. The direction is clear: become the vertical financial OS for auto shops, not just their workflow tool.
SHOPMONKEY processes payments through Stripe and Stripe Connect.
SHOPMONKEY uses Stripe (KYC via Stripe Connect) for KYC and identity verification.
SHOPMONKEY's lending and capital products are provided by Stripe Capital.
SHOPMONKEY integrates with QuickBooks Online and QuickBooks Desktop.
The Embedded Finance Index 2026 maps 5 layers in SHOPMONKEY's stack: Payments / PSP (Stripe and Stripe Connect); Lending (Stripe Capital, Shopmonkey Capital and Buy Now, Pay Later (customer-facing)); Unified APIs (Layer); KYC (Stripe (KYC via Stripe Connect)); Accounting (QuickBooks Online and QuickBooks Desktop).
SHOPMONKEY was founded by Ashot Iskandarian and is founded in 2016, headquartered in Morgan Hill, California, United States.
SHOPMONKEY has raised $110M in total (latest round: Series C, 2021).
Get a read on where your own stack stands against SHOPMONKEY 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.