BNPL Mondu adds $13m to last year’s Series A

Following an initial $43m Series A round just last May, Mondu has raised yet another $13m.

The extension of last year’s Series A round brings the Berlin-based B2B payments startup’s total funds to $90m in equity and debt.

In a round led by existing investors Valar Ventures and FinTech Collective, the latest injection of cash will be used to continue its market expansion and explore new products, which Mondu says includes an omnichannel solution.

The ‘buy now, pay later’ (BNPL) solution for B2B merchants and marketplaces first launched in Germany in October 2021 before expanding to Austrian and Dutch markets.

“Buy Now, Pay Later in B2B has established itself as a valuable tool to meet the business buyers’ expectations, providing a ‘consumer’ checkout experience and flexible payment,” Mondu co-founder and co-CEO Philipp Povel said.

“We are confident that the demand for Buy Now, Pay Later for B2B will grow dramatically in 2023. 

“There are many positive effects of this financial tool, not only for buyers but also merchants and marketplaces as they continue seeing basket sizes increase and enhanced loyalty of buyers.”

The startup landed with a bang with a $14m seed round that was fully equity, and since its $43m Series A round last May has secured €20m in debt financing from VVRB, expanded to Austria and the Netherlands, opened an Amsterdam office and grown its headcount to 140.

It has also strengthened its C-suite, bringing on former Klarna legal director Miyu Lee as chief legal officer and general counsel, as well as adding former BCG Partner Julian Kurz as its chief commercial officer and Grover’s former VP People Lauren Hoehlein Joseph as its new people officer.