Monq raises £2.3m pre-seed to automate procurement negotiations using large language models
This article covers Monq, a London-based data startup that has raised £2.3m (about $3m) in a pre-Seed round led by Outward VC to roll out an AI-driven negotiation platform for high-value enterprise procurement. The development aims to support enterprise procurement teams by automating and speeding complex supplier negotiations, potentially delivering material cost savings and shorter deal cycles.
Monq, a London-based data startup, has raised £2.3m (about $3m) in a pre-Seed round led by Outward VC to roll out an AI-driven negotiation platform for high-value enterprise procurement. The product aims to automate and speed complex supplier negotiations — a function that Monq and its backers argue remains largely manual across large organisations and could deliver material cost savings.
Why it matters
Procurement is a sizeable but under-automated part of enterprise operations. Monq cites estimates that slow, manual procurement processes cost companies around £76bn ($100bn) a year and points to a global procurement market worth roughly $10.4tn. If the company’s pilot results scale — cost reductions of up to 40% and deal cycles shortened by a factor of five — those improvements would change how procurement teams prioritise time and risk when negotiating multimillion-pound contracts.
For buyers negotiating capital expenditure, software licences, consulting or logistics agreements, even relatively small percentage improvements can translate into large absolute savings. That is why vendors and investors are watching tools that stitch together large language models, contract data and negotiation workflows into operational systems.
Inside the product
Monq has developed a multi-agent AI platform that it says combines LLM reasoning, contract intelligence and behavioural science to assist or, where authorised, autonomously negotiate complex supplier agreements. The system is designed to reason over deal history, supplier performance metrics and negotiation patterns, then recommend levers or execute negotiations under human-set parameters.
In pilots with FTSE-listed manufacturers, global healthcare groups and Ennovi, a Singapore-based automotive tech company, Monq reports measurable outcomes: cost reductions up to 40% and deals closed up to five times faster. Those pilot customers span sectors where procurement processes and contract terms are often bespoke and high value, making them illustrative proof points for the platform’s use cases.
In the announcement, 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.
The company says teams retain control over negotiation parameters, choosing how much automation to apply, and that Monq’s system is intended to amplify human judgement rather than replace it.
Who are the investors?
Monq raised £2.3m ($3m) in a pre-Seed round led by Outward VC, with participation from Cornerstone VC, Portfolio Ventures, Octopus Ventures, Endurance Ventures, Lakestar Halo and a group of strategic angels. The round was reported to be almost twice oversubscribed.
Outward VC framed the investment as a bet on an under-automated enterprise function and on Monq’s AI-human approach to negotiation.
In the announcement, 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.
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Founder perspective
Monq was founded in April 2025 by Yasin Bostancı and Duygu Gözeler Porchet. Bostancı previously worked as an Operating Partner in Revolut’s CEO Office; Gözeler Porchet has held senior roles at Deutsche Bank and HSBC. The company is headquartered in London and reports ongoing operations in the US, Poland and Turkey.
In the announcement, 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.
In the announcement, 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.
The funding will be used to scale pilots, expand operations across the EU, US and Middle East, and grow engineering and product teams. Monq will start on a subscription model and is considering value-based pricing tied to a share of realised savings.
The bigger picture
Monq’s round sits at the intersection of enterprise AI and procurement automation, an area attracting fresh attention as companies look to extract more value from contracting and supplier management. For UK founders and investors, the deal is another example of interest in enterprise tools that combine data, models and workflow automation rather than point solutions.
As procurement teams increasingly prioritise data-driven decision-making, tools that can integrate contract intelligence and negotiation workflows may find steady adoption across manufacturing, healthcare, logistics and professional services in Europe and beyond. Monq’s London base and multinational pilot footprint position it within the broader UK-to-US enterprise AI pipeline that investors have been following closely.
They've invested in Monq
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| Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|
 Outward VC | 11 investments investments | 4 contacts contacts | |||
 Cornerstone VC | 10 investments investments | 1 contact contact | |||
 Portfolio Ventures | 21 investments investments | 3 contacts contacts | |||
 Octopus Ventures | 42 investments investments | 14 contacts contacts | |||
 Endurance Ventures | 1 investment investment | 1 contact contact | |||
 Lakestar (Lakestar Halo) | 7 investments investments | 8 contacts contacts |
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