Mondu receives $43 million

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

Mondu received $43 million in a Series A funding round. U.S. venture capitalist Valar Ventures is a new entrant. Existing investors Cherry Ventures and Fintech Collective also participated again, as did some executives from Klarna, Zalando and Sumup.

Philipp Povel, Malte Huffmann and Gil Danziger founded Mondu in August 2021, and the fintech has developed a "Buy Now, Pay Later" (BNPL) payment model for enterprise customers. This allows small and medium-sized businesses to pre-finance goods with other companies and flexibly pay for them later. To do this, merchants integrate the Mondu solution into their online check-out. 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 plans to invest the capital from the funding round in its product and add more customers. "The Series A funding, as well as the continued support from our European and U.S. investors, will allow us to scale our product quickly. We will continue to expand in Europe throughout the year," says Povel. Mondu plans to expand into Austria in June.