PriyaPatelTLDR:
Mondu, a specialist in buy now, pay later (BNPL) solutions, has secured €30 million in debt financing from Vereinigte Volksbank Raiffeisenbank (VVRB). This funding will support Mondu’s expansion and innovation in the B2B payments space across Europe. Mondu has raised a total of €115 million since its launch in 2021, with €50 million coming from VVRB.
Key points:
- B2B payments firm Mondu has secured €30 million in debt financing from VVRB.
- The funding will support Mondu’s expansion and innovation in the B2B payments space.
- The Berlin-based company has raised a total of €115 million since its launch in 2021, with €50 million coming from VVRB.
- Mondu aims to simplify B2B payment transactions and provide a seamless payment experience for customers.
- The company’s solution enables merchants and marketplaces to offer flexible B2B payment methods both online and offline.
- Mondu’s solution has been adopted by various retailers, wholesalers, and B2B marketplaces.
- Last year, Mondu expanded its offices to Amsterdam and London and registered with the UK’s Financial Conduct Authority.
- The company also launched a Digital Trade Account solution and signed partnerships for continued customer growth.
Berlin-based B2B payments firm Mondu has secured €30 million ($32.7 million) in debt financing from German bank Vereinigte Volksbank Raiffeisenbank (VVRB). The funding will provide Mondu with the resources to continue its expansion and innovation in the B2B payments space. Since its launch in 2021, Mondu has raised a total of €115 million, with €50 million coming from VVRB. The company aims to simplify B2B payment transactions and provide a seamless payment experience for customers. Its solution enables merchants and marketplaces to offer flexible B2B payment methods in a multi-channel setting, both online and offline. This empowers business customers to purchase and pay when they want, resulting in higher conversion rates and average order values. Mondu’s solution has been adopted by various retailers, wholesalers, and B2B marketplaces, including German electronics retailer Notebooksbilliger, British tech provider PCSpecialist, and Dutch wholesaler Orderchamp. In 2023, Mondu expanded its offices to Amsterdam and London and registered with the UK’s Financial Conduct Authority. The company also launched a Digital Trade Account solution, simplifying high-frequency purchases by consolidating recurring purchases into one statement and offering flexible payment terms. Mondu signed partnerships with Acquired.com, Spryker, and MangoPay to drive customer growth. The recent funding from VVRB will further support Mondu’s European expansion and development of additional payment solutions for business customers.
