FinTech: B2B Fintech Mondu Scores $43M Series A Led By Peter Thiel’s Valar Ventures
Mondu raised a $14M seed round in October 21.
Mondu, a Berlin-based fintech startup eyeing a BNPL product for businesses, has raised $43 million in a Series A round led by Peter Thiel’s Valar Ventures. Other participants in the funding included existing investors Cherry Ventures and FinTech Collective alongside angels from leadership at Klarna, Zalando and SumUp. (Sifted)
Mondu will deploy the funds towards international expansion into more European countries starting with Austria, customer acquisition, and product development.
“The B2B e-commerce market is larger than B2C but is underserved by current offerings, and supply chain financing is a growing need, particularly for SMBs,” said Andrew McCormack, founding partner of Valar Ventures. “Online transactions with financing options are limited. Mondu fixes all of these problems with its solution – it’s a game changer.”
Mondu’s solution is easy to integrate into businesses and with merchants through APIs, plug-ins, and checkout widgets.
Aside from offering the usual payment methods offered via a B2C BNPL product, Mondu also offers businesses the facility of flexible payment terms at checkout.
“As more companies increasingly move to digital, the need for BNPL for B2B online will grow immensely,” said Malte Huffmann, co-founder and co-CEO of Mondu. “We’re on the verge of a ‘digitalisation boom’ and Mondu wants to be part of that revolution by driving innovation within the B2B payments space.”
“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 Mondu co-founder and co-CEO Philipp Povel.
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