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Mondu, a B2B payment solutions provider based in Berlin, has secured €30 million in debt financing from German bank Vereinigte Volksbank Raiffeisenbank (VVRB). This additional funding boosts Mondu’s credit facility with VVRB to €50 million. The company plans to use the funds to expand its operations across Europe. Mondu currently offers buy now, pay later (BNPL) and digital trade account solutions in six European countries, including Austria, the Netherlands, Belgium, France, and the UK.
Key points:
- Mondu has secured €30 million in debt financing from Vereinigte Volksbank Raiffeisenbank (VVRB).
- The funding boosts Mondu’s credit facility with VVRB to €50 million.
- The company plans to use the funds to expand across Europe.
- Mondu offers BNPL and digital trade account solutions in six European countries.
Mondu, a Berlin-based B2B payment solutions provider, has secured €30 million in debt financing from German bank Vereinigte Volksbank Raiffeisenbank (VVRB). This funding comes on top of the initial €20 million credit facility that Mondu secured from VVRB in October 2022. The debt financing follows Mondu’s €39.5 million Series A equity funding round led by Valar Ventures in May 2022, which was later extended by €11.9 million in early 2023. In total, Mondu has raised over €115 million in equity and debt funding since its founding in 2021. The company hopes the latest debt financing boost will support its expansion plans across Europe.
Currently, Mondu provides buy now, pay later (BNPL) and digital trade account solutions in six European countries, including Austria, the Netherlands, Belgium, France, and the UK. The company launched in the UK in March 2023 after obtaining approval from the Financial Conduct Authority (FCA). With the new funding, Mondu aims to ramp up its expansion across the European market and develop additional payment solutions. Philipp Povel, co-founder and co-CEO of Mondu, expressed excitement about the cash injection, stating that it will enable the company to accelerate its growth and serve more customers across Europe.
Overall, this debt financing boost from VVRB significatly strengthens Mondu’s financial position and supports its ambitious plans for European expansion. The company’s focus on BNPL and digital trade accounts aligns with the growing demand for convenient and flexible payment solutions in the B2B sector. With its track record of successful funding rounds and rapid growth, Mondu is well-positioned to capture a larger share of the European market and become a leading player in the B2B payment space.
