European B2B payments company Mondu has brought its buy now, pay later (BNPL) B2B offering to the UK, opening a London office and hiring a UK team.
Last year, Mondu expanded into Austria and the Netherlands, following its growth across Germany.
The UK is now the fourth market where its BNPL solutions for B2B will be available to merchants and marketplaces, including ‘MonduOnline B2B Buy Now Pay Later’ for e-commerce checkout and ‘MonduSell B2B Buy Now Pay Later’ for multichannel sales, such as field, telesales, on-site, and order via email.
Mondu’s flexible payment options will also be offered in the UK, with the option to repay in 30, 45, 60 and 90 days.
Malte Huffmann, co-founder and co-chief executive officer of Mondu, said the “time is right” for Mondu to launch in the UK.
“UK B2B commerce is the second largest in Europe, and there’s a real need for BNPL as we’ve seen through a growing demand from UK businesses for our solutions, since our initial launch,” Huffmann said.
“Our payment solutions can help both online and offline companies across the UK provide their business customers with a consumer-like, best-in-class payment experience.”
UK businesses will be able to cross-sell with Germany, Austria, and the Netherlands and also with France, which is another new market and currently enabled for buyers only.
Mondu’s UK team will be overseen by a country lead and will comprise commercial and customer service professionals.
The expansion of Mondu follows a $13 million Series A extension round in January, which took its combined equity and debt funding to $90 million since its inception in October 2021.
In addition to the UK launch, Mondu announced the appointment of Eric Weijman as chief risk officer from Netherlands-based ABN AMRO Asset Based Finance.
In his new role, Weijman will be based in Mondu’s Amsterdam office, and will oversee risk management frameworks that “protect the interests of the company while ensuring regulatory compliance”.
He said: “Mondu’s founders and C-suite see risk management as a growth lever for the business, and its sustainable execution strategy convinced me of its world-winning potential.
“Based on my experience in asset-based working capital financing, I recognised a growing need for SMEs to have B2B payment and working capital solutions, which stem from the current digital age. I strongly believe Mondu has a right to win in this exciting and enormous market.”
Main image L-R Mondu founders: Malte Huffman, Gil Danziger and Philipp Povel.