B2B fintech, Mondu BV has added a new electronic money institution (EMI) licence to its growing roster as it expands its presence in Europe.
Having already established an offering in Germany, Austria, the UK, Belgium, Switzerland, and France, the B2B fintech has now received an EMI licence from De Nederlandsche Bank (DNB) in the Netherlands, further solidifying itself in the market. As a result of this licence, Mondu will be able to support more customer and launch complementary payment services like e-wallets and credit cards.
Philipp Povel, co-CEO and co-founder of Mondu
Philipp Povel, co-CEO and co-founder of Mondu said: “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.”
Povel continued, “It brings us a significant step closer to achieving our long-term mission of building the leading B2B payment platform for European businesses. This is a tremendous achievement of the entire Mondu team. Now, our eyes are firmly set on European expansion and launching additional payment products.”
Growth since 2022
The Dutch Mondu entity was incorporated in June 2022 and is headquartered in Amsterdam. The management board of Mondu BV consists of Eric Weijman, chief risk officer of Mondu Group, and Stefano Arcari, commercial director.
While initially responsible for serving B2B merchants and marketplaces located in the Netherlands, Mondu BV will now offer regulated payment services both in the Netherlands and on a cross-border basis into all Mondu markets (excl. the UK).
Miyu Lee, chief legal and compliance officer of Mondu and supervisory board member of Mondu BV
Miyu Lee, chief legal and compliance officer of Mondu and supervisory board member of Mondu BV, said: “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. It helps to further develop our product offering, as we can launch a range of complementary, value-adding solutions for merchants and business buyers.”
Mondu works with retailers, wholesalers, and B2B marketplaces, such as BTN De Haas BV, Profipack and Orderchamp in the Netherlands, Notebooksbilliger, WirMachenDruck, Autodoc, and GGM Gastro in Germany, and PCSpecialist and Kingspan in the UK.
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