When was Monavate founded?

Monavate was founded in 2019 and raised its 1st funding round 2 years after it was founded.

Where is Monavate located?

Monavate is headquartered in Cambridge, United Kingdom.

Which legal entities is Monavate associated with?

Monavate is associated with MONAVATE LTD.

How many employees does Monavate have?

As of Jul 31, 2026, the latest employee count at Monavate is 65.

Is Monavate a funded company?

Monavate is a funded company, having raised a total of $***** in its 1st and only funding round, a Seed round on Mar 30, 2021.

When was the latest funding round of Monavate?

Monavate's latest funding was a $***** Seed round on Mar 30, 2021, with participation from 0 investor.

What is the annual revenue of Monavate?

Annual revenue of Monavate is between £10M and £50M as on Jul 31, 2023

Where does Monavate rank among its competitors?

Monavate ranks 3rd amongst 204 active competitors, of which 21 are funded. It stands 5th in terms of total funding among its competitors. The most recent competitor to raise funding was Silverflow, which secured $40M in Mar, 2026.

Who are the top competitors of Monavate?

Monavate's top competitors include FSS, Elavon and Conferma. Among them, Silverflow secured the most recent funding round in March, 2026.

Monavate - 2026 Company Profile, Team, Funding, Competitors & Financials

Monavate is an acquired company based in Cambridge (United Kingdom), founded in 2019 by Ajeb Wahiwala. It operates as an Online payment and issuer processing solution for businesses. Monavate has raised $6.89M in funding. The company has 204 active competitors, including 21 funded and 56 that have exited. Its top competitors include companies like FSS, Elavon and Conferma.

Company Details

Online payment and issuer processing solution for businesses. It enables the business to launch and connect with card networks and issuing banks to provide card issuance management, authorize transactions, and communicate with settlement entities. It offers ATM BIN sponsorships working with multiple ATM processors to end-to-end payment processing service with dedicated account management support.

Website: www.monavate.com/
Social
Email ID: *****@monavate.com
Phone Number: +44 **********

Key Metrics

Founded Year

2019

Location

Cambridge, United Kingdom

Stage

Acquired

Total Funding

$6.89M in 1 round

Latest Funding Round

Seed, Mar 30, 2021, $*****

Ranked

3^rd among 204 active competitors

Annual Revenue

£10M - £50M as on Jul 31, 2023

Employee Count

65 as on Jul 31, 2026

Similar Companies

FSS & 267 more

Exit Details

Acquired by Exodus (Nov 24, 2025)

View Monavate's full profile

Monavate is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
MONAVATE LTD CIN: 12472532 , United Kingdom, Active	Feb 18, 2020	£10M - £50M (As on Jul 31, 2023)	5 (As on Jul 31, 2021)

Monavate got acquired by Exodus on Nov 24, 2025.

Click here to take a look at Monavate's acquisition in detail

Monavate has raised a total funding of $6.89M over 1 round.

Here is the list of recent funding rounds of Monavate:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 30, 2021	4802179	Seed	3998068	3132310	2831461	5946418

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View details of Monavate's funding rounds and investors

The founders of Monavate is Ajeb Wahiwala.

Here are the details of Monavate's key team members:

Ajeb Wahiwala: Co-Founder of Monavate. They serve on the board of 1 company.

Monavate's Board of Directors

Monavate's board has 5 active members. Ajeb Wahiwala and Leeandrajae Vaile are part of team and Richard Anderson, Scott Lucas and Dorte Dye are independent board members.

Here is the list of Monavate's board of directors:

Name	Type	Representing	Status	Duration
Ajeb Wahiwala	Team	-	Current	5y 8m
Leeandrajae Vaile	Team	-	Current	6y 5m
Richard Anderson	Independent board member	-	Current	5y 8m
o{ncybc	Independent board member	-	Current	7y 7m
hkdxfmj	Independent board member	-	Current	5y 8m

View details of Monavate's Founder profiles and Board Members

Monavate's employee count trend

Monavate has 65 employees as of Jul 26. Here is Monavate's employee count trend over the years:

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Top competitors of Monavate include FSS, Elavon and Conferma. Here is the list of Top 10 competitors of Monavate, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	FSS 1991, Chennai (India), Series C	Provider of payment technology solutions for card issuance and management	$127M	Premji Invest, The Carlyle Group & 7 others	64/100
2nd	Elavon 1991, Atlanta (United States), Acquired	Global payment processing solutions for businesses of all sizes and industries	-	-	63/100
3rd	Monavate 2019, Cambridge (United Kingdom), Acquired	Online payment and issuer processing solution for businesses	$6.89M	-	63/100
4th	Conferma 2004, Cheadle (United Kingdom), Unfunded	Provider of virtual card and payment solutions for business transactions	-	-	62/100
5th	EVO Payments 1989, Atlanta (United States), Acquired	Merchant acquiring and payment processing solutions	-	Ranger Investments, MDP	61/100
6th	TSYS 1982, Columbus (United States), Acquired	Issuer processing solutions	-	-	60/100
7th	Paysera 2004, Vilnius (Lithuania), Series A	Banking channels and issuer processing solutions	$8.62M	-	59/100
8th	CPI Card Group 1995, Littleton (United States), Public	Payment card and issuer processing solutions	-	Demtech, Parallel49 Equity	59/100
9th	Silverflow 2019, Amsterdam (Netherlands), Series B	Issuer processor providing payment processing solution for businesses	$76.4M	Crane Venture Partners, Coatue & 6 others	58/100
10th	Enfuce 2016, Espoo (Finland), Series C	Provider of open banking API solutions	$74.2M	Vitruvian Partners, Tencent & 5 others	58/100