UK FinTech Modulr has raised £18.9mn in growth funding.
In Brief:
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The round was led by Highland Europe and included Frog Capital.
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Modulr offers a Payments as a Service model.
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It helps automate payment flows and was recently made a Visa principal partner.
What does this mean?
The company also gained a £10mn grant from the Capability and Innovation Fund, and has raised a total of £43mn to date. It will use the funding to expand its payment platform both in terms or geography and product range.