Mondu, a Berlin, Germany-based B2B payments company, raised €20m in debt funding.
German bank Vereinigte Volksbank Raiffeisenbank provided the loan, granted to a Luxembourg-based SPV and collateralized.
The financing allows Mondu to scale and diversify its refinancing with external investors – both German and International.
Founded in late 2021 by Malte Huffman, Gil Danziger, and Philipp Povel, Mondu launched a Buy Now, Pay Later for B2B solution for merchants and marketplaces. The BNPL and Installments solutions offer business buyers their favorite offline payment methods in B2B and flexible payment terms in an online B2B checkout. The company’s solutions are already available to business customers in Germany and Austria, and will now be available in the Netherlands and enable cross-border commerce between these countries. As part of its expansion, Mondu plans to open a new office in the Netherlands, hire local personnel and invest in local marketing activities. A vast recruitment campaign is currently on-going in Amsterdam. They have also launched Split Payments, which allows business buyers to divide their purchases into equal, interest-free payments – with no additional or hidden fees.
Since the business was founded, the company has raised a combined $57m from a Seed and Series A equity round from investors including US-based Valar Ventures, Cherry Ventures, FinTech Collective and angel investors.
FinSMEs
13/10/2022