B2B payment solution provider Mondu has announced that it has raised additional financing for 30 million euros ($33 million).
The specified debt financing from Vereinigte Volksbank Raiffeisenbank eG increases the total investment in the mentioned company to more than 115 million euros. In October, the payment solution provider managed to raise 20 million euros. Information about the additional funding was published on Mondu’s LinkedIn account last Thursday, January 25.
The company’s official statement notes that the investments support the mission to enter new European markets and efforts to develop additional payment solutions. It is separately noted that the received financing will contribute to meeting the growing needs of the firm’s business clients.
Mondu’s B2B payment solutions provide merchants and marketplaces with the ability to offer their clients flexible payment terms online, over the phone, and in the field. The relevant information is contained in the company’s LinkedIn account.
The firm also offers Buy Now, Pay Later (BNPL) solutions. Within the framework of this product, the company provides consumers services such as purchase on invoice, Single Euro Payments Area (SEPA) direct debit, and installments. Moreover, Mondu protects its customers from the risks of default and saves them from having to deal with handling collection.
The company brings B2B payments to the B2C payment level. In this case, customers are at the center of the payment flow. The company provides consumers with a seamless, modern, and cutting-edge experience. In this case, there is no difference whether the customers are buyers or sellers.
B2B payments stimulate the implementation of BNPL in Europe. It is worth noting that currently there is a high level of demand for new-generation solutions in the consumer community. There are many B2B, B2C, C2C examples in the sphere of financial services that have demonstrated a high level of efficiency and have benefited consumers. The trend in demand for appropriate solutions shows signs of continuation and expansion.
Mondu Co-CEO Philipp Povel, during the announcement of the Series A raising investment round in May 2022, noted that B2B BNPL lags behind the consumer BNPL market, but only in the United States and Europe there is an opportunity to receive financing for $200 billion, which exceeds the volume of the global BNPL market.
In December, the company announced the beginning of a partnership with Mangopay. This collaboration is aimed at supporting the B2B marketplace business across Europe. As part of the companies’ partnership, consumers are offered a modular payment infrastructure that can be adapted to their specific needs.
In August, Mondu merged with the composable commerce Spryker platform. In this case, flexible payment solutions are offered to more B2B buyers and help companies increase indicators of their online sales and revenue. A feature of this interaction is the availability of Mondu BNPL offers to consumers of Spryker services.
