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 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.