On May 30, 2022, Mondu announced a US $43 million Series A investment headed by Valar Ventures, a US-based venture capital firm. By investing in its product and customer acquisition, Mondu will be able to scale its BNPL for B2B solutions for merchants and marketplaces. Mondu intends to expand into additional European nations later this year, beginning with Austria this summer.
What the founders have to say:
Malte Huffmann, Co-Founder and Co-CEO of Mondu:
“In the B2B industry, the concept of BNPL isn’t new; offline commercial trade has been using it for decades. However, as more businesses go digital, the demand for BNPL for B2B internet will skyrocket. We’re on the cusp of a “digitalization boom,” and Mondu wants to be a part of it by fostering innovation in the B2B payments arena.”
Philipp Povel, Co-Founder and Co-CEO of Mondu:
“While B2B BNPL lags behind consumer BNPL, we believe there is a US $200 billion opportunities in Europe and the United States alone, larger than the worldwide consumer BNPL market.” This Series A and the assistance of our European and US investors will enable us to swiftly develop our product and client base in preparation for our planned entrance into Europe later this year.”
What the investors have to say:
Andrew McCormack, Founding Partner of Valar Ventures:
“BNPL for B2B is present at the crossroads of three massive markets in flux. The B2B payments business is enormous, and its digital transformation has accelerated in recent years. The B2B e-commerce industry is greater than the B2C market, but present services underserve it, and supply chain finance is becoming more important, especially for small businesses. Financing alternatives for online transactions are restricted. With its solution, Mondu solves all of these issues. It’s going to be a game-changer.”
More about the company:
Mondu has received US $57 million in its Series A round, including assistance from Cherry Ventures, tech entrepreneurs, FinTech Collective and senior executives from Klarna, Zalando, and SumUp. Mondu assists SMBs in simplifying their financial lives so they may focus on their business. Its BNPL solution for merchants and marketplaces includes B2B payment options and variable payment terms in their online checkout.
Mondu’s solution has already helped thousands of businesses and has attracted merchants from various industries, including beauty, cleaning, and manufacturing. Ionto Comed, a beauty producer that supplies salons with anything from massage treatment tables to apparative cosmetic equipment, is an example of a Mondu customer.
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