📈 Mondu's New Financing Boost
Mondu, a B2B payments company based in Berlin, has raised an additional €30M ($32.4M) in debt financing from Vereinigte Volksbank Raiffeisenbank (VVRB). This comes after securing €20M ($21.6M) from VVRB in October 2022, totaling €50M ($54M) in debt financing. Including earlier equity investments, Mondu has now raised more than €115M ($124.2M) since its launch in October 2021. Philipp Povel, Co-Founder and co-CEO, said: "This financing will significantly bolster our European expansion, enabling us to ramp up expansion across the European market and develop additional payment solutions to benefit business customers."
🌍 Expansion Across Europe
The new financing will enable Mondu to further its presence across Europe. The company, founded by Malte Huffmann, Philipp Povel, and Gil Danziger, currently operates in Germany, the Netherlands, and the UK. Mondu also offers services to businesses in Austria, Belgium, and France. In 2023, Mondu opened offices in Amsterdam and London and registered with the UK’s Financial Conduct Authority, launching services with over 25 British businesses.
🤝 Key Partnerships and Innovations
Mondu has partnered with leading companies to enhance its services. These include Notebooksbilliger in Germany, PCSpecialist in the UK, and Orderchamp in the Netherlands. The company also launched a Digital Trade Account, simplifying high-frequency purchases by consolidating them into one statement. Mondu's BNPL products now serve not only online purchases but also field sales, telesales, and email orders. Partnerships with Acquired.com, Spryker, and MangoPay further boost Mondu's growth and service offerings.
🚀 VVRB's Continued Support
Ralf Magerkurth, CEO of VVRB, expressed strong support for Mondu's growth. He stated: "Building on the success of our partnership in Germany and Austria, we remain steadfast in our belief in Mondu’s business model and its potential for growth. Our commitment extends beyond borders, as we are excited to support their expansion into other European countries further." This new financing from VVRB underscores the bank's confidence in Mondu's vision and capabilities, positioning the company for further success in reshaping the B2B payment landscape across Europe.
How do you think Mondu’s expansion will impact B2B payments in Europe?
