Small businesses are looking for new ways to finance their operations during the likely global recession. The Buy Now Pay Later business model is expanding into this B2B world at a rapid rate. Playter, Hokodo, Billie, and Tranch are some of the players who have raised support to do this. Mondu is a B2B Payments company in Germany.
Mondu will use the funding from the Series A round to expand into more European countries later this year.
Tech entrepreneurs and senior executives from Zalando, and the previous investors, also participated. The company has raised over fifty million dollars.
Mondu offers a variety of payment options for merchants and marketplaces.
The concept of a business network is not new in the B2B world, according to a statement from the Co-Founder and Co-CEO of Mondu. The need for B2B online will grow as more companies move to digital. Mondu wants to be a part of the digitalization boom and drive innovation within the B2B payments space.
There is a $200 billion opportunity in Europe and the US, according to Philipp Povel, Co-Founder and Co-CEO of Mondu.
Mondu has signed merchant customers in industries such as beauty, cleaning and manufacturing. Ionto Comed is a manufacturer in the beauty sector.
The intersection markets that are all in transition are BNPL for B2B. Over the past couple of years, the B2B payments market has transitioned to digital. The B2B market is larger than the B2C market, but it's not as well served by current offerings and supply chain financing is a growing need.
Mondu will need to expand quickly. Berlin-based Billie has raised 138.6 million dollars so far, and the UK's Tranch has raised $5.6 million.
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