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UK industry fintech Monet has secured £17 million in early-stage funding to address cashflow challenges facing creative sector, with the round led by prominent banking figures including Paul Rippon, co-founder of challenger banks Monzo and Starling.
Michael Fischer Director of Modern Capital Group
Dan Adler of Railsr
The investment also includes Michael Fischer from Modern Capital Group, Dan Adler of Railsr and D Squared Capital, alongside specialist venture firm Force Over Mass and other angel investors. The funding combines equity and debt, with Monet in discussions to secure an additional £10 million in debt financing.
The London-based platform is already supporting creative agencies managing campaigns across television, music, gaming and social media, including Cowshed Collective, which produced Footasylum's YouTube series Locked In.
The funding comes as creative businesses in Britain face significant barriers to traditional lending. Data from the Creative Industries Council shows only 7% of creative businesses access bank lending, compared with 25% of small and medium-sized firms overall. The sector faces a £1.1 billion backlog in unpaid invoices and delayed supplier payments.
Jacob Casson, founder and CEO Monet
"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," said Jacob Casson, founder and chief executive.
The platform integrates financing, payments and workflow tools to support agencies operating in a sector valued at £124 billion annually. 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.
Most of Monet's clients generate between £2 million and £20 million in revenue and require financial systems that match their operational pace, according to Casson.
The UK Business Debt Report indicates more than £503 million of business debt is tied up in the country's arts sector, while Goldman Sachs projects the global creator economy will reach $480 billion by 2027.
"Monet is building the kind of infrastructure the creative sector has needed for a long time," said Paul Rippon, describing the investment as his largest angel investment to date.
