Fintech

Germany-based fintech Mondu, which specialises in B2B payment solutions, has collected a further EUR 13 million in an extended Series A financing round.

Germany-based fintech Mondu, which specialises in B2B payment solutions, has collected a further EUR 13 million in an extended Series A financing round.

The investment is led by Valar Ventures and FinTech Collective. Both companies already have stakes in Mondu. The Series A expansion brings the total investment round to EUR 52 million, enabling further market growth and product development. Mondu is exploring new use cases for its B2B payment products, such as an omnichannel solution.

Mondu in growth mode 

According to a Mondu representative, the fintech is confident that the demand for Buy Now, Pay Later for B2B will increase significantly in 2023. Since the announcement of the first Series A in May 2022, Mondu has introduced hire purchase and expanded to Austria and to the Netherlands. Since its inception in October 2021, Mondu has raised EUR 83 million in equity and debt funding from Valar Ventures, FinTech Collective, Cherry Ventures, top-tier business angels, and German bank VVRB.

 

Mondu’s BNPL offers

Mondu’s B2B Buy Now, Pay Later solution for online checkouts lets users offer their customers their preferred payment methods and flexible terms without risk or additional costs. This aims to maximise conversions​ by offering real-time credit checks, high approval rates, and high purchase power. Additionally, it should improve working capital by optimising customers’ cash flow with risk-free payouts. The business gets paid upfront, while its customers pay at their convenience.

Germany-based fintech Mondu, which specialises in B2B payment solutions, has collected a further EUR 13 million in an extended Series A financing round.

Mondu integrates into any web shop, both bespoke or based on a webshop platform,  and supports a range of multi-language systems and payment methods. Users can also embed the ecommerce plugin widget seamlessly into their webshop checkout. 

 

Introduction of Split Payments

In September 2022, Mondu introduced Split Payments, a solution that allows business buyers to split purchases into six equal, interest-free payments. This aimed to bring flexibility to the B2B ecommerce space. This option of carrying out payments through installments should provide business buyers with more control over their expenditures, and enable them to buy more and increase revenue for online vendors.

Another aim of this introduction was to improve cashflow by allowing upfront payments, with no settlement delay, with business buyers also having the option of payment flexibility. Merchants can get set up this new feature by using Mondu’s widget embedded in the checkout and choosing their preferred implementation method, which ranges from ecommerce plugins to API integrations.

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