B2B BNPL: Mondu launches in the UK
Just 18 months on from its launch, Berlin-based Mondu is seeing strong growth as it expands to cover four of Europe’s largest lending markets.
Mondu, a payments fintech that offers ‘buy now, pay later’ services for online businesses, has launched in the UK.
As part of its UK launch, Mondu is opening an office in London and currently hiring a UK-based team.
Berlin-based Mondu, founded in October 2021, offers BNPL services to both merchants and marketplaces. Last year the company expanded rapidly in its home German market as well as launching in Austria and the Netherlands. It has a team of nearly 140 people based across three offices in Berlin, Amsterdam and London.
The company, which added $13m to its Series A funding round in January 2023, bringing its combined equity and debt funding to $90m, is also launching into the French market.
“The time is right for Mondu to launch in the UK. UK B2B commerce is the second largest in Europe, and there's a real need for BNPL as we've seen through a growing demand from UK businesses for our solutions, since our initial launch, said Malte Huffmann, Co-Founder and Co-CEO of Mondu.
“Our payment solutions can help both online and offline companies across Britain provide their business customers with a consumer-like, best-in-class payment experience,” he said.
Mondu has also added to its leadership team recently, appointing ABN Amro’s Asset Based Finance’s Eric Weijman as its new Chief Risk Officer. Based in the Netherlands, Weijman was previously CRO of ABN Amro’s asset based finance business.