The investment round has been led by new investors Frog Capital as well as further investment from existing investors including Blenheim Chalcot.
This scale-up capital takes the total amount raised to GBP 24.5 million and will enable Modulr to accelerate its vision of enabling partners and direct clients to integrate new payment services into their core products. The Modulr platform delivers a fully integrated service providing a digital alternative to processing payments via traditional business and corporate banking.
The capital will support the continued growth of the teams located in London and Edinburgh. The recent establishment of an additional office in Dublin will be the focus for expansion into Europe.
Modulr combines its API enabled platform with authorisation from the UK’s Financial Conduct Authority as an Authorised Electronic Money Institution to deliver a fully regulated service.
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