Mondu Raises €30million in Debt Financing to Expand B2B BNPL Solutions Across Europe
January 25, 2024

Mondu, the B2B payments company, has raised an additional €30million in debt financing from German bank Vereinigte Volksbank Raiffeisenbank (VVRB).

It plans to use the financing to expand across Europe over the next 12 months.

Mondu secured €20million from VVRB in October 2022; the increased credit facility provides Mondu with €50million in addition to earlier equity investments. Mondu has raised more than €115million since its October 2021 launch.

Philipp Povel, co-founder and co-CEO of Mondu said: "This financing will significantly bolster our European expansion, enabling us to ramp up expansion across the European market and develop additional payment solutions to benefit business customers. This step further strengthens our commitment to driving innovation and value in the B2B BNPL ecosystem. We are grateful for the continued trust and support from VVRB and look forward to our ongoing partnership.”

While Ralf Magerkurth, CEO of VVRB also added: “Building on the success of our partnership in Germany and Austria, we remain steadfast in our belief in Mondu’s business model and its potential for growth. Our commitment extends beyond borders, as we are excited to support their expansion into other European countries further. This step is a testament to our confidence in Mondu’s vision and capabilities, and we are proud to be a part of their journey towards reshaping the industry across Europe.”

Mondu works with retailers, wholesalers and B2B marketplaces such as Notebooksbilliger, an electronics retailer in Germany, PCSpecialist, a technology provider in the UK, and Orderchamp, a wholesaler from the Netherlands.

The company opened offices in Amsterdam and London and successfully registered with the UK’s Financial Conduct Authority, launching its services with over 25 British businesses. In addition to the UK, Mondu is available to businesses in Germany, Austria, and the Netherlands, as well as buyers in Belgium and France.