London-based fintech Wamo partners with Modulr for banking-as-a-service (BaaS) to expand its presence in the UK and Europe.
Facts
- Wamo, founded in 2018, offers account services to businesses and SMEs in the EU and UK.
- Services provided by Wamo include business card registration, team management, debit card distribution, payments, and money transfers with human-led support.
- Wamo’s new deal makes it a distributor of Modulr financial services, focusing on an embedded payments platform as an alternative to traditional banking.
- Wamo plans to integrate Modulr’s infrastructure and launch additional services, potentially including USD accounts, credit cards, and loan services.
- Yanki Onen, CEO of Wamo, emphasizes expanding product offerings and delivering excellent customer service.
- Tony Byers, Modulr’s chief customer officer, expects the partnership to enhance embedded payments and improve account creation and payment processing for Wamo’s customers.
