Mondu receives 20 million euros
Marius Ochs
| 13.10.2022
Vereinigte Volksbank Raiffeisenbank is investing €20 million in the fintech, which is expanding into the Netherlands in October.
Vereinigte Volksbank Raiffeisenbank has extended a €20 million loan to fintech Mondu, founded in 2021, through a special purpose vehicle (SPV) established in Luxembourg. CEO and co-founder Phillipp Povel calls the investment a milestone for his company. "The loan from VVRB gives our company a high level of trustworthiness," he says.
His company is expanding into the Netherlands in October, and the hiring process is currently underway, according to the press release. So, after Germany and Austria, cross-border trade to a third country is now possible. Mondu says it brings B2B payment methods on par with B2C payments. For example, the company offers a "Buy Now, Pay Later" solution for businesses as well.
Previously, the Berlin-based startup raised $57 million with this idea in two rounds of funding from U.S. investors including Valar Ventures, Cherry Ventures and FinTech Collective. According to its own information, Mondu now employs more than 120 people.
Newsletter
Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.
LinkedIn ConnectTake care, give care
Did this news inform or entertain you? Then we would be happy if you tell your network about it.
Share on Linkedin Share on Facebook Share on XingRelated companies
Investor
2012
Berlin
Startup
2021
Berlin
FYI: English edition available
Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?
FYI: Deutsche Edition verfügbar
Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?
