VVRB increases financing of Mondu to a total of 50 million euros

Mondu strengthens its financial base: With an additional debt financing of 30 million euros, the B2B payment company is focusing on further European growth

Berlin, January 25, 2024 - B2B payments company Mondu has received an additional €30 million in debt financing from Vereinigte Volksbank Raiffeisenbank (VVRB), increasing its existing loan of €20 million to a total of €50 million. This will enable Mondu to continue its expansion in Europe.

This step further strengthens our commitment to innovation and value creation in the B2B BNPL ecosystem.

Philipp Povel, Co-Founder and Co-CEO of Mondu

Since its founding in October 2021, Mondu has raised a total of more than 120 million US dollars in equity and debt capital from various investors. The current financing round builds on a previous investment of 20 million euros by VVRB in October 2022. Philipp Povel, Co-Founder and Co-CEO of Mondu, emphasizes the importance of this financing for the European expansion and the development of new payment solutions for business customers.

Building on the success of our collaboration in Germany and Austria, we remain firmly convinced of Mondu's business model and its growth potential.

Ralf Magerkurth, CEO of VVRB

Now with a total of 50 million euros, Mondu plans to expand its offering across Europe. Last year, the company expanded its services to the UK and is now also available to buyers in France and Belgium. Ralf Magerkurth, CEO of VVRB, is confident about the future cooperation and emphasizes the trust in Mondu's vision and capabilities.

Strong growth in 2023

The year 2023 marked a year of growth for Mondu, in which the company successfully collaborated with various partners. With offices in Amsterdam and London and registration with the UK Financial Conduct Authority, Mondu expanded its network and now provides payment options to more than 25 UK merchants. The company partnered with players such as Acquired.com, Spryker and MangoPay to further drive customer growth.

As well as focusing on typical online B2B purchases, Mondu is expanding its BNPL products to offer flexible payments for field sales, telesales and email orders. The introduction of the digital Trade Account also simplifies the processing of regular purchases.