Late payments and rigid financing options are slowing down the growth of Europe’s B2B commerce market. As more businesses move online, many still rely on legacy payment systems. This has led to a strong need for modern solutions that can support digital trade.
Founded in 2021 by entrepreneurs Malte Huffmann, Philipp Povel, and Gil Danziger, Mondu is a Berlin-based fintech startup that is tackling this problem by offering B2B payment solutions to simplify business transactions in Europe. It focuses on making payments flexible, convenient, and secure, helping businesses operate more efficiently.
Earlier this year, Mondu partnered with Payin3, the instalment payment provider, and Lemonway, a French modular payment solution that simplifies payments for marketplaces and alternative finance platforms, further strengthening its position in Europe.
It also launched Pay Now, enabling merchants to serve all buyers and allowing buyers to pay directly from their bank accounts, providing a secure, streamlined checkout experience that removes the need for a separate A2A payment provider.
€100 million debt facility
Today, Mondu secured a €100 million debt facility from J.P. Morgan Payments. The company is backed by Valar Ventures, FinTech Collective and Cherry Ventures. This financing will be used to scale its B2B payment solutions and support its expansion across Europe.
In addition, Mondu has joined the J.P. Morgan Payments Partner Network. As part of the network, Mondu offers a referral program that provides its innovative deferred payment solutions for accounts payable and receivable to J.P. Morgan Payments’ extensive network of corporate clients in Europe.
This collaboration will provide J.P. Morgan Payments’ clients with seamless access to Mondu’s flexible payment options, helping them to improve cash flow, increase sales, and streamline their payment processes.
Heather Crowley, Global Head of Trade & Working Capital Product, J.P. Morgan Payments, says, “We’re excited to support Mondu’s growth and to collaborate with them in bringing their innovative B2B payment solutions to our clients.”
She adds, “The B2B payments landscape is undergoing a significant transformation, and Mondu is leading the way in Europe. Their unique suite of payment solutions and pan-European coverage can help our clients improve working capital management and grow their businesses. We look forward to a successful collaboration.”
Philipp Povel, co-CEO of Mondu, said: “We are thrilled to be working with a world-class institution like J.P. Morgan Payments. This debt facility and strategic collaboration are a significant validation of our business model and our vision to simplify the financial lives of businesses.”
Povel concludes, “The capital will allow us to accelerate our growth and support more businesses across Europe with our innovative B2B payment solutions. Joining the J.P. Morgan Payments Partner Network will be a great driver of our expansion in Europe, and we look forward to working with their team and customers.”
