The funding will help Mondu support its expansion in Europe. Here are the top-line bullets you need to know.
Mondu, a B2B buy now, pay later (BNPL) platform, has raised $43M in a Series A. The round drew participation from Valar Ventures, Cherry Ventures, and FinTech Collective, among others.
HOW’S THE COMPANY PERFORMING?
- Germany-based Mondu offers flexible payment methods for B2B merchants and marketplaces.
- The platform caters to the wholesale, manufacturing, beauty, cleaning, and other B2B marketplace segments.
- Mondu is supported by a team of 100+ employees.
WHY DOES THE MARKET MATTER?
- Today, BNPL represents a small portion of overall spending on payment cards (including credit, debit, and prepaid cards), with the US seeing around $8T in overall annual spending. However, BNPL is at an inflection point and is expected to witness a 10-15x growth in spend volumes and exceed $1T in annual gross merchandise value by 2025. This projected growth has attracted the attention of major merchant businesses and enabled the enhancement of online users’ payment experiences.
- BNPL players have seen record funding in recent years. There have been major acquisitions in this space as well, such as Square acquiring AfterPay for $29B.
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