Mondu receives 43 million US dollars

The fintech was launched in August 2021 and is positioning itself on the European market with the capital from the financing round.

Mondu has received 43 million US dollars in a Series A financing round. The US venture capitalist Valar Ventures is a new investor. The existing investors Cherry Ventures and Fintech Collective as well as some executives from Klarna, Zalando and Sumup also participated again.

Philipp Povel, Malte Huffmann and Gil Danziger founded Mondu in August 2021. The fintech has developed a "Buy Now, Pay Later" payment model (BNPL) for corporate customers. This allows small and medium-sized enterprises to pre-finance goods from other companies and pay for them later in a flexible manner. The retailers integrate the Mondu solution into their online checkout. Klarna, among others, offers comparable solutions for end customers. Mondu assumes that the potential of the BNPL market for corporate customers is much greater: "We have reason to believe that there is a market volume of 200 billion for B2B in Europe and the USA alone, which exceeds the global B2C BNPL market," says Mondu co-founder and CEO Philipp Povel.

Mondu intends to invest the capital from the financing round in its product and acquire additional customers. "The Series A funding and continued support from our European and US investors will allow us to scale our product quickly. We will continue to expand in Europe over the course of the year," says Povel. Mondu is planning to expand into Austria in June.