Germany-based fintech Mondu, which specializes in B2B payment solutions, has raised an additional €13 million in an extended Series A funding round.
Germany-based fintech Mondu, which specializes in B2B payment solutions, has raised an additional €13 million in an extended Series A funding round.
The investment is led by Valar Ventures and FinTech Collective. Both companies already have shares in Mondu. The Series A expansion brings the total investment round to EUR 52 million, enabling further market growth and product development. Mondu is exploring new use cases for its B2B payment products, such as an omnichannel solution.
Mondu in growth mode
According to a Mondu representative, the fintech is confident that the demand for Buy Now, Pay Later for B2B will increase significantly in 2023. Since the announcement of the first Series A in May 2022, Mondu has introduced hire purchase and expanded to Austria and to the Netherlands. Since its inception in October 2021, Mondu has raised €83 million in equity and debt financing from Valar Ventures, FinTech Collective, Cherry Ventures, top-level business angels and the German bank VVRB.
Mondu BNPL offer
Mondu integrates into any online store, whether tailored or based on an online store platform, and supports a number of multilingual systems and payment methods. Users can also embed the e-commerce plugin widget seamlessly into the online store.
Introduction of split payments
In September 2022, Mondu introduced Split Payments, a solution that allows business buyers to split purchases into six equal, interest-free payments. This aimed to provide flexibility to the B2B e-commerce area. This ability to make payments through installments should give business buyers more control over their spending, enabling them to buy more and increase revenue for online providers.
Another goal of this introduction was to improve cash flow by allowing advance payments, without settlement delays, with business buyers also having the option of payment flexibility. Merchants can set up this new feature using Mondu’s widget built into the checkout and choose their preferred implementation method, which ranges from e-commerce plugins to API integrations.
