Mondu raises EUR 30 million in debt financing round

Friday 26 January 2024 08:18 CET | News

Germany-based B2B BNPL payments provider Mondu has raised EUR 30 million in a debt financing round from Vereinigte Volksbank Raiffeisenbank (VVRB).

The fund injection comes as an addition to VVRB’s EUR 20 million previous investment in Mondu in October 2022, bringing the total financing to EUR 50 million. As per the information detailed in the press release, Mondu plans to leverage the capital to continue its expansion across Europe and support further development strategies. Since its launch in October 2021, Mondu raised EUR 115 million and entered several collaborations to advance its expansion plans.

Germany-based B2B BNPL payments provider Mondu has raised EUR 30 million in a debt financing round from Vereinigte Volksbank Raiffeisenbank (VVRB).

Mondu’s objectives and capabilities

According to Mondu’s officials, the current financing supports the company’s European expansion, allowing it to increase its growth across the market and develop additional payment solutions for its business customers. Moreover, the fund injection solidifies the company’s commitment to improving the Business-to-Business (B2B) Buy Now, Pay Later (BNPL) ecosystem. Mondu also underlined that the company looks forward to deepening its ongoing partnership with Vereinigte Volksbank Raiffeisenbank. Representatives from VVRB stated that the investment follows the success of the two companies’ collaboration in Germany and Austria and supports Mondu’s business model and potential for growth. VVRB intends to assist the company in its expansion into additional European countries, as well as its plans to develop new solutions and capabilities.

Furthermore, Mondu saw significant growth in 2023, as the company started working with retailers, wholesalers, and B2B marketplaces, including Notebooksbilliger, PCSpecialist, and Orderchamp. Additionally, it was successfully registered with the UK’s Financial Conduct Authority (FCA), which enabled it to provide its services to over 25 British businesses. Mondu’s solutions are currently available to businesses in Germany, Austria, and the Netherlands, and buyers in Belgium and France. One of the most recent collaborations for Mondu was in December 2023, when the company partnered with Mangopay to support B2B marketplace business through flexible payment infrastructure and payment terms. Through this partnership, the two companies intended to provide marketplaces across Europe with a modular payment infrastructure that could be tailored to address their demands, with B2B payment methods and flexible payment terms.

In addition to Mondu’s partnerships, the company also increased its capabilities with the launch of a Digital Trade Account, a payment solution that was set to enable B2B merchants and marketplaces to provide trade accounts for their business customers. Mondu also expanded its BNPL product to offer flexible payments in field sales, telesales, and email orders, apart from already providing online B2B purchases.

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Keywords: investment, B2B payments, BNPL, partnership, online payments, marketplace
Categories: Payments & Commerce
Companies: Mondu, Vereinigte Volksbank Raiffeisenbank
Countries: Europe
This article is part of category

Payments & Commerce



Vereinigte Volksbank Raiffeisenbank

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