London-based financial platform MONET, aimed at improving cashflow management for creative agencies, has announced a successful early-stage funding round of £17 million. The investment is led by well-known banking figures, including 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 company’s platform is already in use by various creative agencies in the television, music, gaming, and social media sectors, including Cowshed Collective, which produced Footasylum’s YouTube series Locked In. This funding round combines equity and debt, and MONET is currently in talks to secure an additional £10 million in debt financing.
The need for a platform like MONET is evident as creative businesses in Britain continue to face difficulties in securing traditional lending. According to the Creative Industries Council, only 7% of creative businesses have access to bank lending, compared to 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 CEO Jacob Casson explained the company’s mission, stating, “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.” The platform’s 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 also emphasized the need for financial systems that match the pace of their clients, who typically generate between £2 million and £20 million in revenue. The UK Business Debt Report shows that more than £503 million of business debt is tied up in the country’s arts sector. Additionally, Goldman Sachs projects that the global creator economy will reach $480 billion by 2027.
Paul Rippon, who has made his largest angel investment to date in MONET, described the platform as “the kind of infrastructure the creative sector has needed for a long time.” With this significant investment and the potential for further debt financing, MONET is poised to make a significant impact in the media and entertainment sectors.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.