Haynes Boone has represented Monq Ltd, a London-based startup building the first artificial intelligence platform designed specifically for strategic procurement negotiation.
Founded earlier this year by former Revolut and HSBC executives, Monq raised $3 million in this pre-seed financing round led by London-based investment firm Outward VC, alongside Cornerstone VC, Octopus Ventures, Lakestar Halo and strategic angels.
The Haynes Boone Investment Management team representing Monq was led by London Partner Andrew Pannell, with assistance from Associate David Harris and Trainee Solicitor Kirsty Harshaw.
“It was a pleasure to support Monq on this financing round,” Pannell said. “We very much look forward to continuing to partner with the team at Monq as they scale AI-driven negotiation globally.”
Monq will use the funding to build their AI platform, which will transform high-value B2B buying at scale and will address the major inefficiencies identified by the founders in enterprise operations.
“Thank you very much to Andrew, David and the wider team at Haynes Boone for their support,” said Yasin Bostanci, founder of Monq. “The team’s role in coordinating with the various stakeholders was instrumental in getting this round closed and we look forward to continuing to work with the Haynes Boone team as Monq scales.”
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