Berlin-headquartered B2B-focused Buy Now, Pay Later Fintech Mondu is reportedly opening a new office in London and appointing a UK-based professional sales team.
The recent UK launch has come on the heels of the firm’s ongoing expansion into the Netherlands as well as Austria, offering clients a range of services, such as MonduOnline B2B BNPL for digital commerce checkout and its recently introduced MonduSell for multichannel sales, with flexible payment plans of 30, 45, 60, and 90 days.
As noted in the update, the French market is another key addition from Mondu, presently supported for buyers only and coinciding with the launch in the United Kingdom.
Earlier in 2023, Mondu had announced the close of $13 million Series A extension, which notably took the firm’s total funding to $90 million in equity and debt financing since the Fintech firm was established in October 2021.
Malte Huffmann, co-founder and Co-CEO of Mondu, stated:
“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. 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.”
The Fintech company is also further expanding its C-suite with the recent appointment of Eric Weijs as the Chief Risk Officer from ABN Amro Asset Finance, where he was responsible for overseeing a team of 150 risk management professionals.
He reportedly joins the recently appointed Chief Commercial Officer Julian Kurz as well as Chief People Officer Lauren Hoehlein Joseph.
At Mondu, they claim to be “changing the B2B payments ecosystem by providing payment solutions that enable any B2B company to grow quickly and safely.”
They enable merchants and marketplaces “to offer their business customers the most popular B2B payment methods with flexible payment terms on every sales channel – online, in telesales or field sales.”
Their Buy Now, Pay Later solutions “include purchase on invoice, SEPA direct debit, and Installments.” Vendors who work “with Mondu are protected from default risk and save the hassle of collections and dunning.”
Mondu brings B2B payments “up to par with B2C payments, putting customers at the heart of the payment flow and ensuring they have a seamless, modern, and state-of-the-art experience – whether they are sellers or buyers.”
Founded in 2021, they’ve “raised $90 million in equity and debt financing to date, backed by leading investors Valar Ventures, Cherry Ventures, the FinTech Collective, and German bank VVRB.”