Mondu Raises $43M in Series A Funding

Mondu, a Berlin, Germany-based B2B payments company, raised $43M in Series A funding.

L-R: Malte Huffmann, Gil Danziger and Philipp Povel
L-R: Malte Huffmann, Gil Danziger and Philipp Povel

The round was led by Valar Ventures with participation from existing seed investors FinTech Collective, Cherry Ventures, and angel investors from Klarna, Zalando, and SumUp, among others.

The company intends to use the funds to scale its BNPL for B2B solution for merchants and marketplaces by investing in its product and customer acquisition across more European countries later this year, starting with Austria this summer, and hire for a wide range of senior and junior positions, including its tech, risk, sales, and operations teams. 

Founded in August 2021 by serial entrepreneurs Philipp Povel and Malte Huffmann as well as Gil Danziger, Mondu provides a Buy Now, Pay Later (BNPL) solution for B2B merchants and marketplaces. The solution integrates with merchants, and is accessible through APIs, plug-ins, and checkout widgets. The company, which has hired a team of over 100, has served thousands of businesses to date, with customers ranging from beauty and cleaning to manufacturing and raw materials.