Berlin’s Lively Fintech Scene Gets Another Boost
Less than a year ago in August 2021, experienced entrepreneurs Philipp Povel, Malte Huffmann and Gil Danziger founded the fintech startup Mondu. By now they have already garnered $57 M in funding. The company specializes in ‘buy now pay later’ tech, a concept that PayPal or Klarna users will recognize, but focus on the B2B sector, in which the idea is well-known but the solutions so far clunky. By attempting to provide easily integrated standardized automated solutions, Mondu is operating in the same space as Berlin B2B payment startups Billie (founded 2016) and new player Topi. Unlike Billie, Mondu has Raisin Bank (also in Berlin) in the background to actually handle the transactions. In the race for market share, the Mondu funding, as Finanz Szene and Handelsblatt report, is to be used for internationalization, first within DACH to Austria. This latest round for Berlin fintech follows a significant financing earlier this year for company spending platform Moss.