Berlin-based Mondu, a B2B payments company, announced on Thursday that it has secured €11.9M in a Series A extension round of funding led by Valar Ventures along with FinTech Collective.
The announcement comes a couple of months after raising €20M in a debt round of funding from German bank Vereinigte Volksbank Raiffeisenbank.
The latest funding takes the total investment in the round to $56M.
Since its inception in 2021, the German fintech company has raised $90M million in equity and debt financing from Valar Ventures, FinTech Collective, Cherry Ventures, high-profile business angels, and VVRB.
Mondu says it will use the funds to accelerate market growth and product development. The company is also exploring new use cases for its B2B payment products, such as an omnichannel solution.
Founded in 2021 by Malte Huffmann, Philipp Povel, and Gil Danziger, Mondu is a B2B payment fintech company.
It provides a “Buy Now, Pay Later” solution for B2B merchants and marketplaces, as well as payment terms during online checkout.
Mondu has built a payment product that drives conversion rate and incremental sales for merchants, focussing on a frictionless checkout experience for business customers.
The solution can be integrated with merchants and is accessible through APIs, plug-ins, and checkout widgets.
The startup enables retailers and marketplaces to provide the most popular B2B payment options, such as purchase on the invoice and SEPA direct debit, as well as flexible payment periods to their business clients via online checkouts.
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