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