PayPal Ventures is making a strategic investment in UK FinTech Modulr.
In Brief:
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Modulr offers infrastructure for seamless payment solutions.
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As reported by Sky News, the fundraising is set to be announced today.
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It follows a funding round earlier this year which raised almost £19mn.
What does this mean?
With the cash injection PayPal joins existing shareholders including Blenhein Chalcot and Highland Europe. Modulr is benefitting from a growing interest in payment solutions throughout the Covid-19 pandemic, despite economic uncertainty, and has also become part of the BACS scheme.
