FinTech Monavate launches new Supply Chain Payments division

By Gloria Methri

Cambridge-based payment solutions provider Monavate has launched a new Supply Chain Payments division, to bring simplicity and clarity to B2B companies. The company has appointed Anant Patel, an established payments expert with over two decades of global experience, as President of the new division.

Patel joins Monavate after almost two years as President of International Markets at ConnexPay, a US-based payments FinTech that connects payment acceptance and issuance for marketplaces and intermediary companies.

Bringing his unique expertise in FinTech, embedded finance, and supply chain payments technology, Patel will launch and scale Monavate’s new Supply Chain Payments division, to create innovative and effective payment solutions to help businesses in key verticals, to alleviate the challenges faced due to inefficient payments and their associated processes.

“In today’s dynamic business landscape, where the global B2B payments market ranges from $100 trillion to $150 trillion, there is a growing need for efficiency, innovation, and a departure from outdated workflows and practices that pose barriers and add risk to businesses,” said Anant Patel, President of Supply Chain Management at Monavate. “My decision to join Monavate is rooted in my first-hand experience as one of their valued customers. Throughout this journey, I have witnessed the exceptional culture of the organisation, making it a place where excellence flourishes. Together, we will drive innovation and create solutions in supply chain payments, empowering businesses across the globe to thrive in an ever-evolving market.”

Michael Rolph, Chief Executive Officer of Monavate said, “Monavate stands for simplifying the payments technology and strategic choices needed in the path to market for innovative, ambitious businesses. We have built, and will continue to build, a composable payments infrastructure platform that removes hurdles, frees businesses from inefficiencies and helps them gain efficiency and tap new revenue streams. I welcome Anant to the Monavate team, we are all excited by what comes next, as we scale our tech and make it available to more clients, new products, and new markets.“