Modulr, a London, UK-based fintech company offering digital payments accounts for businesses, received a new funding round of undisclosed amount.
This latest round, which brought total funding raised to date to £10.5m, was led by Blenheim Chalcot.
The company is using the funds to expand operations and open a new office in Edinburgh.
Founded in 2016 and led by Myles Stephenson, CEO, Modulr provides a digital payment account, which automates and manages business payments in real time, leveraging an API. The solution integrates into the core of the business and allows users to automate and manage payments on their terms.
The company says it has processed £4.2bn in business payments during its first two years of activity.