Monto enables B2B finance teams to seamlessly get paid from any AP portal used by their enterprise customers. The company also announced the opening of a U.S. office in New York City.

The round was led by Scale Venture Partners with participation from Verissimo Ventures, F2 Venture Capital, Firsthand Alliance and Room40 Ventures. Serial entrepreneur Ariel Maislos and fintech angels who come from executive positions at Intuit, Plaid, Salesforce and more also participated. Monto will use the funding for its U.S. expansion and continue advancing its technology to make the collection of B2B payments-mostly ACH and RTP-as easy as tapping a card.

Monto is the first-of-its-kind AI connector designed for any ERP, enabling B2B finance teams to seamlessly get paid from any AP portal used by their enterprise customers. The platform connects Monto's customers' ERP systems to their customers' payment platforms and brings these businesses into the future of B2B payments, where getting paid is a one-click process.