2022 has been a massive year for us with lots of exciting developments that have set us up for an even bigger and better 2023. In a year that saw growing economic uncertainty and record inflation, we’re super proud to have launched several new products that are helping make the financial lives of thousands of B2B merchants and their customers easier. As 2022 comes to a close, here's a look back at some of our major accomplishments and milestones from a fantastic year.
We raised new funding to accelerate growth
In 2022 Mondu secured an additional €40 million in equity investment and €20 million in debt financing, bringing the company's total capital to over €72 million. Our Series A round was led by US-based venture capital fund Valar Ventures with the participation of our seed investors, FinTech Collective and Cherry Ventures. The €20 million debt investment was led by German bank Vereinigte Volksbank Raiffeisenbank. The capital injection and debt financing will help fuel our product development efforts and further support our European expansion plans in 2023.
We launched in Germany, Austria, and The Netherlands
Following the successful launch of Mondu’s Buy Now, Pay Later solution in Germany, Mondu went international! We entered the Austrian market in July, enabling us to offer merchants a single solution for both the German and Austrian buyers. In October, we launched in the Netherlands, which was a natural next step for us in our European expansion plans. Just like in Austria, B2B merchants and marketplaces in the Netherlands can partner with Mondu to provide unrivalled payment flexibility at the checkout. We also set up a team on the ground in Amsterdam to support our rapidly growing operations.
We launched world-class B2B BNPL products
Our product and engineering teams had a busy year. They successfully launched a suite of innovative Buy Now Pay Later payment methods for B2B online shops and marketplaces that take the checkout experience to the next level. Our invoice purchasing and direct debit methods deliver the most popular payment options for B2B buyers and offer flexible payment terms of 30, 45, 60 or 90 days. For direct debit, Mondu automatically debits the amount from the buyer’s bank account on the payment date. Our installment payments option allows B2B buyers to divide their purchases into six equal, interest-free payments. With installment payments, buyers enjoy a flexible payment option that empowers them to purchase more.
We welcomed lots of new customers
During the year, we successfully onboarded many new customers from various industries ranging from Beauty to Timber to Food & Beverages to Electronics and beyond, across all our markets of operation. Our support and success teams went above and beyond to ensure they had everything they needed to get started. They stayed with them every step of the way and continue to remain available to assist consumers in any way they can. So far, the response has been tremendous, and we’re pleased to say that our customers are getting great results since implementing our innovative BNPL solutions!
We presented at the world’s most prestigious events
Mondu presented at national and international events like WebSummit, DMEXCO and K5. On over 24 stages – both physical and virtual – our speakers Malte Huffmann, Philipp Povel, Gil Danziger, Miyu Lee, Lauren Joseph, Stefano Arcari, Hasmik Avetisyan, Daria Kameneva, Tim Knostmann and Amber Duettmann shared their expertise on B2B e-commerce, payments and fintech.
Get more out of your payments with Mondu.
We grew our team from 20 to 140
The Mondu team grew significantly this year, from just over 20 to more than 140 people, and we're still hiring! For practically every department, from engineering and compliance to product design and marketing, we hired the best talent worldwide. We also invested in training and development programs to ensure everyone could learn, grow, and contribute to the best of their abilities. Despite our rapid growth, we were able to create a highly productive and engaged team with a collaborative and communicative culture. One that enables everyone to work together to achieve our business goals and deliver incredible results.
We ranked among Europe’s hottest startups
We were proud to be recognised at the forefront of the European tech scene and voted as one of the best places to work. Wired Magazine named us one of Berlin’s hottest startups and our innovative BNPL products and rapid growth won us a spot on the Accel Fintech 100 as one of the top Fintechs in EMEA. We were also shortlisted for The Europas Tech Startup Awards as one of the leading companies in the FinTech category!
We danced, partied and had so much fun!
Onwards and upwards in 2023!
2022 has been an incredible year for us. But even as we grow, our north star remains the same: simplifying the financial life for B2B companies – so that they can focus on growing their business.
With major new product releases in the pipeline and exciting announcements just around the corner, we’re filled with excitement and anticipation for 2023.
Here’s to an even better year ahead!