Monq has emerged from stealth with £2.3 million in pre-seed funding to launch its AI-driven strategic negotiation platform. The round was led by Outward VC, with participation from Cornerstone VC, Portfolio Ventures, Octopus Ventures, Endurance Ventures, Lakestar Halo, and strategic angels. The funding will help scale Monq’s engineering and product teams and accelerate its global rollout.
Founded in April by Yasin Bostancı, former Operating Partner at Revolut’s CEO Office, and Duygu Gözeler Porchet, an award-winning business leader with an extensive career at major global banks including Deutsche Bank and HSBC, Monq is tackling one of the largest inefficiencies in enterprise operations: how global corporations strike their most important deals.
Complex, high-value supplier contracts are the lifeblood of enterprises spanning every industry worldwide, from manufacturing and tech to logistics, professional services and more. Yet, despite being part of a multi-trillion market, strategic procurement is one of the last major enterprise functions untouched by true automation. It is still plagued by manual processes that drain resources – nearly a quarter of procurement time is wasted on low-value tasks each day – and it still relies on risk-heavy guesswork rooted in instinct over analytics. At the same time, today’s tech solutions focus on rebuilding these outdated processes with AI rather than transforming how procurement teams work.
Monq’s multi-agent AI system combines LLM reasoning, contract intelligence and behavioural science to enhance, rather than replace, this human intuition. Each agent reasons across deal history, supplier performance metrics, and negotiation psychology patterns to simulate counterparty moves, recommend optimal levers, and, where authorised, autonomously negotiate deals end-to-end. At every step, teams have full control of negotiation parameters so they can choose how much, or how little to delegate and this not only frees them up to focus on high-value relationship building and strategy, but it has been shown to represent a key competitive advantage.
In early pilots with partners – including FTSE-listed manufacturers, global healthcare groups and Singapore-based automotive tech leader Ennovi – Monq is estimated to have helped cut costs of up to 40%, close deals as much as 5x faster, and unlock millions in hidden value.
Due to strong investor demand, Monq’s pre-Seed was almost twice oversubscribed and the capital will go towards scaling Monq’s pilots, expanding operations and building full-time engineering and product teams across the EU, US and the Middle East. Operating on a subscription model at launch, Monq will look to explore value-based pricing in the future, charging enterprises a percentage of the savings its technology unlocks.
