Germany-based buy now pay later (BNPL) fintech Mondu has raised $43 million of series A funding to expand into more European markets.
The fintech intends to bring its enterprise BNPL solution to more customers later this year.
Mondu says its solution helps merchants and marketplaces improve conversion rates and protect themselves against default risk, while alleviating the operational burden of collection and dunning.
It also helps buyers benefit from payment flexibility that improves cash flow.
Philipp Povel, co-founder and co-chief executive officer of Mondu, believes there is a “$200 billion opportunity” for its solution in Europe and the US, dwarfing the potential consumer market for BNPL products.
US venture capital fund Valar Ventures led the series A round, which took its total funding raised to $57 million.