Mondu has launched its B2B payment solutions in the United Kingdom.
U.K. businesses can now use Mondu’s B2B buy now, pay later (BNPL) offering both within the country and in cross-selling with businesses in Germany, Austria, the Netherlands and France, Mondu said in a Wednesday (March 22) post on LinkedIn.
The Berlin-based firm is also opening an office in London after seeing growing demand from U.K. businesses for B2B BNPL, according to the post.
“The time is right for Mondu to launch in the U.K.,” Mondu Co-Founder and Co-CEO Malte Huffmann said in the post. “Our payment solutions can help online and offline companies across Britain provide their business customers with a consumer-like, best-in-class payment experience.”
The addition of France is new too, although there Mondu is initially available for buyers only, according to the post.
Mondu was founded in 2021, launched its BNPL product in Germany in 2022, and expanded to Austria and the Netherlands later that year, according to the company’s website.
The company topped up its Series A funding in January, adding another $13 million and bringing the total raised in its Series A to $56 million.
When Mondu announced the initial $43 million raise in May 2022, it said the funds would be used for product development and to further its European expansion.
“While B2B BNPL is behind the consumer BNPL market, we believe there is a $200 [billion] opportunity just in Europe and the U.S., which is bigger than the global consumer BNPL market,” Mondu Co-Founder and Co-CEO Philipp Povel said at the time of the initial Series A announcement.
As PYMNTS reported in February, B2B BNPL has been gaining traction in Europe, buoyed by increasing funding rounds and partnerships.
When announcing Hokodo’s and Lemonway’s collaboration on B2B BNPL, Lemonway Founder Antoine Orsini said, “Together, we have the potential to create tomorrow’s European champions in a market that is expected to grow by 194% in 2025.”