MONET, a London-based financial platform focused on improving cashflow management for creative agencies, has secured £17 million in early-stage funding ahead of its seed round closing this July.
The investment is led by senior banking figures Paul Rippon, co‑founder of Monzo and Starling, Michael Fischer of Modern Capital Group, and Dan Adler of Railsr and D Squared Capital, alongside specialist venture firm Force Over Mass and other angel investors.
The raise combines equity and debt, and MONET is in talks to secure a further £10 million in debt financing. The company says its platform is already in use by agencies working on television, music, gaming, and social media campaigns, including Cowshed Collective, which produced Footasylum’s YouTube series Locked In.
The move comes as creative businesses in Britain continue to face barriers to traditional lending. Figures from the Creative Industries Council show only 7% of creative businesses access bank lending, compared with 25% of small and medium‑sized firms overall. MONET’s platform integrates financing, payments, and workflow tools to support agencies operating in a sector valued at £124 billion annually.
Founder and chief executive Jacob Casson said: “These teams are high‑performing but often underfunded. We have built MONET to deliver financial products that plug directly into campaign operations, making capital, payments and administration seamless from day one.”
Features include campaign‑based financing of up to £3 million per agency, payment capabilities across more than 130 countries, real‑time cashflow forecasting and invoice management. Casson said most clients generate between £2 million and £20 million in revenue and need financial systems that match their pace.
According to the UK Business Debt Report, more than £503 million of business debt is tied up in the country’s arts sector. Goldman Sachs projects the global creator economy will reach $480 billion by 2027.
Paul Rippon described MONET as “the kind of infrastructure the creative sector has needed for a long time,” noting that this is his largest angel investment to date.
Read the orginal article: https://ffnews.com/newsarticle/funding/fintech-investors-back-17-million-funding-for-monet-to-support-uk-creative-agencies/
