With enterprises across the globe losing an estimated $100 billion every year to slow, manual procurement processes, London-based Monq has emerged from stealth with $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.
Fixing a trillion-dollar blind spot
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 ($1M to $100M+) 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 $10.4Tn market, strategic procurement is one of the last major enterprise functions untouched by true automation. It’s 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 At the same time, today’s tech solutions focus on rebuilding these outdated processes with AI rather than transforming how procurement teams work.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 competitive edge
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’s been shown to represent a key competitive advantage.
Building on early traction
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. Having led and assisted negotiations across capital expenditure agreements, consulting and professional service engagements, software and technology licensing, and logistics and supply chain arrangements.
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 Monq’s technology unlocks.
Yasin Bostancı, Co-founder and CEO of Monq said: “Strategic procurement is one of the last frontiers for true automation because so much of it remains powered by intuition. Throughout my previous roles, I saw just how much instinct drives results, but also how much time is wasted and how much value is being left on the table because instinct alone can only go so far. Our goal at Monq isn’t to replace that judgment but to amplify it. By empowering procurement teams with strong, actionable, data-driven and intelligent insights, we’re giving enterprises the speed, clarity and confidence to negotiate at an entirely new scale while unlocking billions in hidden deal flow, value and efficiency before that value is lost to the company.”
Duygu Gözeler Porchet, Co-founder of Monq, said: “Businesses live and die by the deals they make. The average enterprise spends more than half of their operating income purchasing services and/or products to keep operations running, meaning procurement is a core driver of performance, resilience and growth. Yet teams are under growing pressure to do more with less – secure better deals, manage supply risk, and deliver measurable value even as networks grow and complexity rises. At Monq we’re tackling this head on by giving companies the confidence to negotiate smarter, faster, and at a greater scale than ever before.”
Devin Kohli, Partner at Outward VC said: “Monq’s AI platform has the potential to redefine enterprise procurement entirely. The strategic procurement space is a blue ocean for AI innovation and Monq’s unique AI-human approach is already unlocking millions in measurable savings while transforming how enterprises work. We are delighted to be partnering with Yasin, Duygu and team.”
Georgie Fu, Senior Director of Category Management at design partner Ennovi said: “In today’s rapidly changing world, identifying supply risks and developing effective mitigation plans in a timely manner has become an increasingly complex challenge for procurement managers. At Ennovi, we are excited to collaborate with Monq to develop an AI-powered tool that will empower our procurement teams to make more accurate, data-driven, and timely decisions.”
