Mondu, a Berlin-based B2B fintech company, has made a significant stride in its growth journey by securing an Electronic Money Institution (EMI) License from De Nederlandsche Bank (DNB) in the Netherlands. This accomplishment positions Mondu as the first B2B Buy Now, Pay Later (BNPL) company in Europe to be granted its own EMI license, paving the way for its expansion across the continent.

Securing the EMI License

The granting of the EMI license by the respected Dutch regulator DNB is a crucial milestone for Mondu. This license will accelerate the company's expansion across Europe, enabling it to support more customers and launch complementary payment services, such as eWallets and Credit Cards.

Philipp Povel, the Co-CEO and Co-Founder of Mondu, emphasizes the significance of this achievement, stating, "Mondu is the first B2B Buy Now, Pay Later company in Europe to be granted its own EMI License. This is a key moment for our company and demonstrates the maturity and sophistication of our platform and the processes and capabilities we have established over the past two and a half years."

Expanding Regulated Payment Services

With the EMI license in place, Mondu's Dutch entity, Mondu BV, will now be able to offer regulated payment services not only in the Netherlands but also on a cross-border basis into all of Mondu's existing markets, excluding the UK.

Miyu Lee, the Chief Legal & Compliance Officer of Mondu and Supervisory Board Member of Mondu BV, highlights the license's benefits, stating, "Being granted this license by the highly respected regulator DNB is a great milestone for us. With the ability to passport our EMI license across Europe, it will help us accelerate our geographical expansion. The license also allows us to operate within our own regulatory framework, which is highly secure and fully compliant with all applicable legislation."

Mondu's Growth and Expansion

Founded in 2021 by Malte Hoffmann, Philipp Povel, and Gil Danziger, Mondu has quickly established itself as a leading B2B payments company. The company currently has offices in three markets: the Netherlands, Germany, and the UK, and has raised €115 million in equity and debt financing from prominent investors such as Valar Ventures, Cherry Ventures, the FinTech Collective, and Vereinigte Volksbank Raiffeisenbank (VVRB).

Mondu's acquisition of the EMI license from DNB is a significant step forward in its mission to become the leading B2B payment platform for European businesses. This achievement positions the company for accelerated expansion across Europe, allowing it to offer a wider range of regulated payment services to its growing customer base. As Mondu continues to innovate and strengthen its offerings, it solidifies its status as a trailblazer in the B2B fintech space.