Mondu raises $43M in series A which Valar led in the US

Mondu raises $43M in series A which Valar led in the US

Mondu, a Berlin-based buy-now-pay-later company, has secured funding of $43 million in a round carried out by Valar Ventures in the US.

Considering the global recession, SMBs have started to reach new heights for financing. Hence, Mondu, a Berlin-based company with a BNPL model, has quickly expanded into the B2B world.

About the investment round

The existing investment participants were FinTech Collective, Cherry Ventures, and some renowned tech geeks and senior investors from SumUP, Klarna, and Zalando.

The start-up company, Mondu, has managed to raise whopping funding of $43 million in a Series A investment round led by a capital venture fund known as Valar Ventures in the US. Moreover, this capital venture fund will utilize these funds to broaden it towards European countries by the end of this year.

They’ve raised a total of $57 million since they started. The B2B solutions by Mondu’s BNPL offer merchants, investors, and markets flexible and different B2B payment terms and options.

The co-CEO and co-founder of Mondu, Malte Huffmann, explained:

“The concept of BNPL isn’t new in the B2B world; offline business trade has enjoyed it for decades. But as more companies increasingly move to digital, the need for BNPL for B2B online will grow immensely. We are on the verge of a “digitalization boom,” and Mondu wants to be part of that revolution and drive innovation within the B2B payments space.”

The other co-CEO and co-founder of Mondu, Philipp Povel, had said that;

“$200 billion opportunity just in Europe and the US, which is bigger than the global consumer BNPL market.”

Ever since the start of Oct 2021, Mondu has actually signed off B2B customers across different industries, including cleaning, beauty, and manufacturing.  

Valar Ventures’ founding member, Andrew McCormack, also commented on this funding:

“BNPL for B2B sits at the intersection of three huge markets that are all in transition. The B2B payments market is immense, and its transition to digital has been accelerated over the past couple of years. The B2B eCommerce market is larger than B2C but is underserved by current offerings, and supply chain financing is a growing need, particularly for SMBs.”