Seven months after a $14 million seed round, Berlin-based B2B BNPL player Mondu has announced a $43 million Series A round raise led by Valar Ventures.
The capital will be used to further scale Mondu’s product offer and hone in on customer acquisitions, as the company begins international expansion plans, beginning this some with the Austrian market.
Since early October 2021, Mondu has raised $56.9 million.
Mondu was founded by seasoned merchants Malte Huffmann and Philipp Povel and focuses on a buy-now-pay-later (BNPL) offer for B2B marketplaces and merchants offering a flexible payment method with net terms, all without the financial and operational headaches often associated with the process.
It should be of note, that while in a different BNPL segment, market leader Klarna is cutting costs across the board, namely with layoffs, Mondu is swimming upstream and hiring like wildfire, recruiting in the areas of tech, risk, sales, and operations.
Mondu’s $43 million Series A round was led by Valar Ventures’ existing seed investors FinTech Collective and Cherry Ventures participating alongside angel investors from Klarna, Zalando, and SumUp among others.
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