Mondu receives 20 million euros
Vereinigte Volksbank Raiffeisenbank invests 20 million euros in the fintech, which is expanding into the Netherlands in October
Vereinigte Volksbank Raiffeisenbank has granted a loan of 20 million euros to the fintech Mondu, which was founded in 2021, via a special purpose vehicle (SPV) established in Luxembourg. CEO and co-founder Phillipp Povel describes the investment as a milestone for his company. "The loan from VVRB gives our company a high degree of trustworthiness," he says.
His company is expanding into the Netherlands in October and, according to the press release, the recruitment process is currently underway. After Germany and Austria, cross-border trade is now possible in a third country. According to Mondu, it brings B2B payment methods on a par with B2C payments. The company also offers a "Buy Now, Pay Later" solution for companies.
The Berlin-based start-up previously raised 57 million US dollars with this idea in two rounds of financing from American investors such as Valar Ventures, Cherry Ventures and FinTech Collective. According to its own information, Mondu now employs more than 120 people.
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