Seven months after a $14 million seed round, Berlin-based B2B BNPL playerMondu announced a Series A round of $43 million for Mondu raise led by Valar Ventures.
The capital will be used to further scale Mondu’s product offer and hone in on customer acquisitions, as the company begins international expansion plans, beginning this some with the Austrian market.
Mondu has raised $56.9 millions since October 2021.
Mondu was founded by seasoned merchants Malte Huffmann and Philipp Povel and focuses on a buy-now-pay-later (BNPL) offer for B2B marketplaces and merchants offering a flexible payment method with net terms, all without the financial and operational headaches often associated with the process.
It is worth noting that, while Klarna, the market leader in BNPL, is cutting costs in a different segment, namely through layoffs and layoffs, Mondu, who is jumping upstream, is hiring like wildfire in the areas tech, risk and operations.
Mondu’s $43 million Series A round was led by Valar Ventures’ existing seed investors FinTech Collective and Cherry Ventures participating alongside angel investors from Klarna, Zalando, and SumUp among others.