A €20 million debt funding round has been secured by Berlin-based B2B payments provider Mondu from German bank Vereinigte Volksbank Raiffeisenbank.

It is Mondu’s first loan that has been granted to a Luxembourg-based SPV and collateralized.

With the most recent debt investment, Mondu is now able to scale and diversify its refinancing with both German and foreign external investors. Through a Seed and Series A equity round, Mondu has raised a total of $57M.

This is another crucial turning point for Mondu, according to Philipp Povel, Co-Founder and CEO of the company. Our high level of business credibility is increased by the fact that VVRB, a respected member of the Group of German Cooperative Banks, is providing this loan.

“It demonstrates that external creditors find our payment alternatives to be valuable. The funding will help us continue to expand throughout Europe and will enable us to provide new payment options for corporate clients,” added Philipp.

As part of its expansion, Mondu intends to establish a new office in the Netherlands, hire local staff, and spend money on regional marketing initiatives. According to the business, Mondu’s continued expansion into the Dutch market is a logical next step.

Entrepreneurs Malte Huffmann, Philipp Povel, and Gil Danziger launched Mondu in Berlin in 2021 to streamline B2B payment processes.

A Buy Now, Pay Later for B2B solution was introduced by the German platform for retailers and marketplaces. Additionally, the company’s BNPL and Installments solutions give business buyers customizable payment periods during an online B2B checkout along with their preferred offline payment methods.

Business customers in Germany, Austria, and the Netherlands can now access the company’s solutions, facilitating cross-border trade across these nations.

In the Netherlands, 48 percent of B2B orders are placed online, according to Philipp Povel. B2B e-commerce sales of tangible items alone will total about $38 billion this year. Revenues are anticipated to reach $54.5 billion by 2025.

With Mondu’s BNPL solutions, B2B companies in the Netherlands will boost conversion rates and customer loyalty by giving customers customizable terms and a quick, frictionless payment experience similar to that of a B2C company.

As a result, local B2B companies will be able to extend their operations without difficulty by selling across borders to customers in Germany and Austria without taking any unnecessary risks.

Julian Kurz and Lauren Hoehlein Joseph have just been added to Mondu’s C-Suite team as Chief Commercial Officer and Chief People Officer, respectively. Currently, Mondu employs about 120 employees.

With almost 65,000 members, VVRB eG is a cooperative bank that provides all the standard banking services. Its emphasis, nevertheless, is on the financing and securities industry, which has long been exploring new territory.

“We see enormous potential in Mondu and its outstanding leadership team,” says Ralf Magerkurth, CEO of VVRB. We think that BNPL for B2B can have a big influence on SMEs, and the management team’s vision has us completely sold. We are eager to aid Mondu’s expansion.


Data professional, Writer and Thinker at TECHnicalBeep, aspiring to provide quality content with respect to "All things Startups" to our readers. It is important for the people that they are aware of how the world is changing and evolving daily, and how those ideas and innovations can potentially help grow the Ideasphere of the region.

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