TLDR:
– Mondu, a B2B payments company, has raised an additional €30 million in debt financing from German bank VVRB. This brings Mondu’s total raised capital to over €115 million.
– ModernFi has closed an $18.7 million Series A funding round to bring its tech-forward platform to community and regional banks.
– Revolut has launched Mobile Wallets, a new option for sending money abroad.
Mondu, a B2B payments company, has secured an additional €30 million in debt financing from German bank Vereinigte Volksbank Raiffeisenbank (VVRB). This brings the company’s total raised capital to over €115 million since its launch in October 2021. Mondu plans to use the funding to continue its growth across Europe and support further expansion plans. In another funding update, ModernFi has closed an $18.7 million Series A funding round. The funding will be used to bring ModernFi’s tech-forward platform to community and regional banks, helping them grow, retain, and manage their deposits. The funding round was led by Canapi Ventures and had participation from Andreessen Horowitz, Remarkable Ventures, and Huntington National Bank, among others. This round adds to a $4.5 million seed round previously led by Andreessen Horowitz.
In terms of company updates, Revolut, the global financial super app, has launched Mobile Wallets, a new option for sending money abroad. Initially available to Revolut customers in the UK and most European countries, Mobile Wallets allows users to send money to Bangladesh (bKash) and Kenya (M-Pesa) using recipient IDs such as their name alongside their phone number or email address. Revolut plans to expand its Mobile Wallets feature to include more wallets routes in the future.
In the partnership space, Spanish fintech ID Finance has closed a strategic partnership with Meeting Pros, a platform for online legal, medical, and veterinary advice. As a result, Plazo’s customers will have free access to consultations in these areas through the app. In another partnership announcement, payment acceptance and services company Ingenico has teamed up with Cybersource, Visa’s payment and fraud management platform. The partnership aims to create a global unified commerce solution, starting with the integration of an Android application developed by Ingenico with the Cybersource open payment platform.
In terms of appointments, Adam Seale has joined UK wealth management business Chip as non-executive chair. Allegra Driscoll has been named executive vice president and chief technology officer at financial services company Bread Financial. Denise Parker has been appointed CEO of Sycurio, a provider of seamless and secure multi-channel payment experiences for contact centers. Sharon Weiss has joined BlueSnap, a provider of global payment solutions, as general manager, Israel, and EVP of R&D. Andrew Brandman has been appointed chief customer officer at Fenergo, a provider of digital solutions for KYC and client lifecycle management. Ahmad Ali Alwan has transitioned from deputy CEO to CEO at Hub71. R3, the enterprise distributed ledger technology (DLT) firm, has appointed Kate Karimson as chief commercial officer and has launched a new DLT product suite. Jay Derenthal has joined asset-backed public reporting company Unicoin Inc. as strategy advisor to the CEO. Jan-Pieter Lips has been hired as the new CEO at DNA Payments Group. Elena Moisei has joined global risk and financial advisory solutions provider Kroll as a managing director. Sally Boyle has been named chief sales officer at financial product and market intelligence company Defaqto. Ben Archer has joined risk and data science consultancy firm Jaywing as lead consultant.
