Mondu Secures FCA Registration and Launches with 16 British Businesses

Lending
19.10.2023 02:30 pm

Mondu, the fast-growing B2B payments company, has today announced it has successfully registered with the Financial Conduct Authority (FCA) and will begin working with 16 British clients immediately.

Following its quick expansion across Europe, Mondu opened in the UK in March of this year. The Buy Now, Pay Later for B2B provider opened an office in London, which is led by former TrueLayer UK Country Manager Roger De’Ath as Managing Director. In addition to the UK, Mondu is available to businesses in Germany, Austria and the Netherlands, and to buyers in Belgium and France.

The UK is one of the most digitised markets in Europe. More than 80 per cent of British businesses have a website and more than 50 per cent of companies already make online purchases. The UK B2B e-commerce market is valued at more than $200Bn, with a growing need for B2B BNPL solutions.

Among the 16 companies going live with Mondu in the UK are technology provider PCSpecialist, electrical specialist Hughes Trade, business travel provider Clooper, Sera Technology for lighting and sports nutrition company Raw Sport. Other customers include businesses operating in software, business letting and restaurant supplies.

Roger De’Ath, Managing Director at Mondu, commented, “With today’s news that Mondu is now registered with the FCA, we are already primed to launch with a range of businesses across the UK. It’s an incredibly exciting day as the UK presents a great opportunity for B2B BNPL. 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.”

Mondu’s BNPL solutions for UK businesses are available across sales channels, for online shops and marketplaces, as well as field- and tele-sales, and include:

Flexible payment options (30, 45, 60 days)
Installments (3, 6, 12 months)
Digital trade accounts
Real-time credit checks and order approvals
Upfront payments, regardless of when customers pay
Protection from default payments, and full support in debtor management

Danny Williams, Director of PCSpecialist, one of Mondu’s UK customers, commented, “We pride ourselves on being ahead of the curve when it comes to delivering the best experiences for our customers. Using Mondu was a no-brainer for us. It’s simple to use and fits well amongst our other payment methods and it’s available across our core European markets. It’s great to see the official launch in the UK and for PC Specialist to be one of the first businesses to offer Mondu’s solutions to our customers.”

Earlier this summer, Mondu announced a new partnership with UK payments specialist Acquired.com to make its payment solutions available to more European customers. The company more recently announced a new partnership with Spryker, the leading composable commerce platform, to reach more B2B customers across Europe.