FCA greenlights Mondu, allowing it to launch in the UK
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The Financial Conduct Authority (FCA) just granted regulatory approval to Mondu, a Germany-based B2B “buy now, pay later” (BNPL) startup, allowing it to go live in the UK.
As soon as the Berlin-based startup secured its regulatory approval and a license to operate in the United Kingdom, it announced its launch and collaboration with as many as 16 different British clients.
Mondu sees rapid expansion across Europe
Prior to entering the UK market, Mondu had been expanding through other European countries. The most recent ones include the Netherlands and Austria, where the firm already started providing a variety of services to local customers.
One of the offered services is MonduOnline B2B BNPL for e-commerce checkout. The company also rolled out its MonduSell — a service offering multichannel sales, which comes with a number of rather flexible payment options that allow buyers to make payments over 30, 45, 60, and even 90 days.
Apart from expanding into the Netherlands and Austria, Mondu also managed to see a debut in France, where it now offers services for buyers only. The launch in the French market also happened to take place alongside the UK launch, allowing the firm to enter two major markets at the same time.
Mondu opens an office in London
As part of its preparation for the UK launch, Mondu managed to open an office in London, where it hired Roger De’Ath — a former TrueLayer UK country manager — who will be leading the UK branch as its managing director.
De’Ath commented on the company’s launch in the UK, stating: “We are already primed to launch with a range of businesses across the UK. There is a growing demand for consumer-like experiences in B2B and with Mondu’s new solutions like Digital Trade Account, businesses are empowered to offer their customers to purchase and pay when they want. This means higher conversion rates, increased order value, and growth for all businesses.”
Apart from Mondu, the UK regulator also granted licenses to 16 other companies, many of which are also tech firms. One example is the technology provider PCSpecialist, while another is the electrical specialist Huges Trade.
There is also business travel provider Clper, as well as a lighting firm Sera Technology, and a sports nutrition firm, Raw Sport. A number of other new arrivals include businesses dealing with software, restaurant suppliers, and even business letting.
It is clear that the UK is rapidly becoming a new hub for startups operating in numerous industries, with even more companies expected to expand into the UK market in years to come.
