The debt funding brings VVRB’s investment in Mondu to €50m.
In brief:
- B2B payments fintech Mondu has raised €30m from Vereinigte Volksbank Raiffeisenbank (VVRB) as it pushes to expand across Europe in 2024
- The Berlin-based B2B ‘buy now, pay later’ launched in the UK last March and is available to businesses in Germany, Austria and the Netherlands and buyers in Belgium and France, but is seeking to expand its footprint with the new funds.
- The plans for expansion follow a year of growth for Mondu, having expanded its BNPL products and made a series of partnerships, including with UK payments specialist Acquired.com and with Mangopay
What does this mean?
”This financing will significantly bolster our European expansion, enabling us to ramp up expansion across the European market and develop additional payment solutions to benefit business customers,” Mondo co-founder and co-CEO Philipp Povel said. “This step further strengthens our commitment to driving innovation and value in the B2B BNPL ecosystem.”
