Berlin-based Mondu, a payment fintech company that provides a “Buy Now, Pay Later” (BNPL) solution for B2B merchants and marketplaces, announced on Monday that it has raised $43M (approximately €39.98M) in a Series A round of funding.
The round was led by US-based venture capital fund Valar Ventures. To date, Mondu has raised $57M (approximately €52.99M).
Investors in this round
Founded by Peter Thiel, Andrew McCormack, and James Fitzgerald, Valar Ventures invests in high-margin, fast-growing financial technology companies that are pursuing huge market opportunities.
Andrew McCormack, Founding Partner of Valar Ventures, says, “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 e-commerce market is larger than B2C but is underserved by current offerings, and supply chain financing is a growing need, particularly for SMBs. Online transactions with financing options are limited. Mondu fixes all of these problems with its solution. It’s a game-changer.”