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HomeBankingMondu gears up for European expansion with €30m debt financing boost

Mondu gears up for European expansion with €30m debt financing boost

Date:

  • Mondu secures €30 million debt financing from German bank VVRB.
  • The deal increases Mondu’s credit facility with VVRB to €50 million, following a €20 million initial funding in October 2022.
  • Mondu raised €39.5 million in a Series A equity funding round led by Valar Ventures in May 2022.
  • The Series A was later extended by €11.9 million in early 2023.
  • Founded in 2021, Mondu has amassed over €115 million in equity and debt funding.
  • Mondu, a B2B payment solutions provider, aims to use the latest debt financing to fuel expansion across Europe.
  • The company operates buy now, pay later (BNPL) and digital trade accounts in six European countries.
  • Mondu launched in the UK in March last year, gaining approval from the Financial Conduct Authority (FCA).
  • Philipp Povel, co-founder and co-CEO of Mondu, highlights that the funding enables the company to accelerate expansion and develop additional payment solutions.

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