German B2B BNPL firm Mondu lands $43m in Series A round
Berlin-based B2B buy now, pay later (BNPL) start-up Mondu has secured $43 million in a Series A funding round led by Valar Ventures.
Mondu bags $43 million Series A
Also participating in the round were existing seed investors FinTech Collective and Cherry Ventures as well as angel investors from Klarna and Zalando, among others.
Mondu says the new funding will be put towards further developing its product offerings and will also enable the firm to expand to other European countries, with plans to launch in Austria this summer.
Founded in August 2021, Mondu provides a BNPL solution for B2B marketplaces and merchants.
Philipp Povel, co-founder and co-CEO of Mondu, says: “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.”
“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,” he adds.
Following a $14 million seed round late last year, the company has raised $57 million in total funding to date.
