The “buy-now-pay-later” provider Mondu (website) receives new capital. The Berlin-based fintech has secured a €20 million loan from Germany’s Vereinigte Volksbank Raiffeisenbank. Mondu plans to use the money to drive international expansion and open an office in the Netherlands.
Just this May, the year-old fintech had received about €40 million from investors – led by Valar Ventures, the fund of star investor Peter Thiel. Existing investors such as Cherry Ventures and New York-based investor Fintech Collective had also participated in the round. Mondu targets its product at B2B marketplaces and merchants selling to business customers. The startup already has 120 employees and recently brought in a prominent hire, Miyu Lee, the chief legal officer of Klarna.
