Mondu moves into online B2B BNPL with BaaS support from Raisin

Germany’s Mondu is to supply purchase now, pay later companies to online B2B retailers and marketplaces by means of a Banking-as-a-Service collaboration with Raisin Bank.

Mondu’s BNPL product at the moment permits for felible cost phrases by way of direct integration into the checkout technique of online retailers. If a enterprise buyer decides to make use of one of many cost strategies provided, Mondu coordinates the processing of the funds in addition to related companies.

As a fronting financial institution, Raisin Bank ensures the regulatory necessities for factoring and likewise offers cost and account companies.

The providing by Mondu and Raisin Bank will add a brand new choice for instalment funds sooner or later, along with setting deferred cost dates by way of the service provider checkout. Expansion into different international locations of the European Union is deliberate within the close to future.

“The partnership with Mondu strengthens our place as a Banking-as-a-Service supplier for fintechs and different monetary service suppliers,” says Andreas Wolf, chief industrial officer at Raisin Bank. “Mondu’s enterprise mannequin has nice potential, and we’re completely happy to assist notice it with our companies. Processes round factoring and BNPL are a vital a part of Raisin Bank’s service portfolio, each within the B2C and B2B sectors.”

Founded late final yr, and securing a hefty $14M seed spherical, Mondu most lately introduced the appointment of former Klarna worker, Miyu Lee, as chief authorized officer and basic counsel, becoming a member of a staff that has grown to over 60 individuals.

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