Mondu Notches $43M for B2B BNPL Services


Buy now, pay later (BNPL) company Mondu has raised $43 million in a series A funding round, the firm announced in a Monday (May 30) blog post.

The company says this will help it “continue to invest” in its product, drive consumer acquisition and support its expansion into more European countries.

The first will be Austria, which Mondu will enter in June.

The Mondu BNPL solution will offer the installment pay options for business-to-business (B2B) transactions and at checkout, and will reportedly be easy to integrate with APIs, plug-ins and checkout widgets.

This will let business customers enjoy the kind of frictionless checkout they want from business-to-consumer (B2C) transactions, Mondu said in the blog post.

The company said it’s working on trying to simplify things for small and medium-sized businesses (SMBs), with Mondu Co-founder and CEO Malte Huffmann saying there are increased needs in this sector now that more companies are moving to digital, and that such tech was an indicator of progress in the sector.

“Mondu wants to be part of that revolution by driving innovation within the B2B payments space,” he said in the post.

“While B2B BNPL is behind the consumer BNPL market, we believe there is a $200 billion opportunity just in Europe and the US, which is bigger than the global consumer BNPL market,” said fellow Mondu Co-founder and Co-CEO Philipp Povel. “This Series A and the backing of our European and US investors will support us to rapidly scale our product and customer reach ahead of further expansion in Europe later this year.”

Read also: Raisin Bank, B2B Payments Firm Mondu Offer BNPL Tool

As PYMNTS reported, Mondu recently teamed with Banking-as-a-Service provider Raisin Bank in order to offer BNPL services for B2B merchants.

Raisin cited the popularity of BNPL as a payment method.

“However, much like the rest of the B2B payments space, it has not benefited from digitalization,” Raisin said. “This presents a growing challenge for B2B customers, who are looking to reliably and conveniently purchase goods and services while reducing risks and costs for retailers.”