B2B payments company Mondu secures USD 43 mln Series A

Mondu helps simplify the financial lives of SMBs so that they can focus on their business. Its BNPL solution for merchants and marketplaces offers payment methods in B2B, as well as flexible payment terms in their online checkout. 

Company officials stated that while B2B BNPL is behind the consumer BNPL market, they believe there is a USD 200 billion opportunity just in Europe and the US, which is bigger than the global consumer BNPL market. This Series A and the backing of their European and US investors will support them to rapidly scale their product and customer reach ahead of further expansion in Europe later in 2022.

Mondu has built a consumerised payment product to drive conversion rate and incremental sales for merchants, focussing on a frictionless checkout experience for business customers. The solution integrates with merchants and is accessible through APIs, plug-ins, and checkout widgets.

The company has already served many businesses through its solution and has signed merchant customers across industries, including beauty, cleaning, and manufacturing. One example of a Mondu customer is Ionto Comed, a manufacturer in the beauty sector that supplies salons with everything from massage treatment tables to cosmetic equipment.