Mondu gears up for European expansion with €30m debt financing boost
Mondu, a B2B payment solutions provider based in Berlin, has landed a €30 million debt financing deal with German bank Vereinigte Volksbank Raiffeisenbank (VVRB).
Mondu secures €30 million debt financing from VVRB
The deal boosts the company’s credit facility with VVRB to €50 million after it secured an initial €20 million from the bank back in October 2022.
Mondu also raised €39.5 million in a Valar Ventures-led Series A equity funding round in May 2022. The company’s Series A was later extended by €11.9 million in early 2023.
Founded in 2021, the start-up has now raised more than €115 million in equity and debt funding. It hopes its latest debt financing boost will help power its expansion across Europe.
It currently operates solutions including buy now, pay later (BNPL) and digital trade accounts across six countries in Europe, including Austria, the Netherlands, Belgium, France and the UK, where it launched in March last year following approval from the Financial Conduct Authority (FCA).
Philipp Povel, co-founder and co-CEO of Mondu, says the cash is “enabling us to ramp up expansion across the European market and develop additional payment solutions”.
