Peter Thiel-backed German B2B BNPL Mondu gets additional €30M debt financing for more European expansion

Jan 25, 2024•almost 2 years ago

Amount Raised

$50 Million

BerlinFinancial Services

Investors

Vereinigte Volksbank Raiffeisenbank (Vvrb)Valar Ventures

Description

Mondu, backed by Peter Thiel's Valar Ventures, secured an additional €30 million in debt financing from Vereinigte Volksbank Raiffeisenbank (VVRB) for European expansion. The financing, along with a previous €20 million loan from VVRB, brings the total financing to €50 million, enabling the company's continued growth across Europe.

Company Information

Company

Mondu

Location

Berlin, Maryland, United States

About

At Mondu, we are changing the B2B payments ecosystem by providing payment solutions that enable any B2B company to grow quickly and safely. We 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 tele-sales or field sales. Our 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, we’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.

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