Berlin-Based B2B Funding Giant Mondu Raises $43M from Peter Thiel
Introduction
In 2021, Berlin-based Mondu, a business-to-business (B2B) financial services firm, raised $43 million from well-known venture capitalist Peter Thiel. Mondu provides access to what the company calls “emerging revenue finance” for businesses in need of short-term, unsecured funding. The round of funding has been hailed as the biggest Series A round for a FinTech firm operating in the European continent this year. The Series A round was led by Thiel, with participation from venture capitalist firm Lakestar and previous investors Target Global, SpeedInvest, Cherry Ventures, and Speedinvest Digital.
Background
Berlin-based Mondu was founded in 2020 by entrepreneurs and financiers Jeffrey Luzum, Alexander von Frankenberg, Andreas Limper and Johannes Siewert. The company uses data science, analytics and algorithms to scan financial systems and provide access to market-rate loans to businesses that need unsecured funding. Mondu enables business customers to access up to €200k of working capital without having to resort to government-guaranteed schemes or venture capital funding. It was lauded for being the first business lending firm in Germany that offers instant access to financial capital over the internet.
Funding Details
Mondu’s latest Series A round was led by venture capitalist Peter Thiel, also known for being the co-founder of PayPal. Peter Thiel had also co-founded Clarium Capital and Mithril Capital, venture capital funds that focus specifically on investing in technology startups. Workspace provider WeWork and ride-hailing giant Uber are some of the companies that have benefited from Thiel’s venture capital investments.
Mondu plans to invest the funds it has raised from its Series A round into developing its core business model and expanding its offerings to new markets. The company is already planning to expand into other European countries, mainly those in the European Economic Area. To date, the business has engaged with over 50,000 businesses and provided them access to capital for short-term funding.
Benefits for Businesses
Mondu’s innovative revenue finance service brings about a number of benefits for businesses needing short-term funding.
Firstly, businesses are able to access unsecured funding from a reliable source quickly and securely. This allows them to carry out their day-to-day operations without worrying whether they will be able to access capital in time.
Secondly, businesses are given access to a competitively priced unsecured loan that is tailored to the particular needs of their business. This allows them to make informed financial decisions on how best to use the funds and ensure that they are getting the most out of the experience.
Finally, with the help of Mondu businesses are able to make informed decisions on when would be the best time to take out loans and how much to take out.
Frequently Asked Questions
Q1. What is Mondu?
A1. Mondu is a Berlin-based business-to-business (B2B) financial services firm that provides access to short-term, unsecured funding for businesses.
Q2. Who led Mondu’s Series A round of funding?
A2. Mondu’s Series A round of funding was led by venture capitalist Peter Thiel.
Q3. What benefits does Mondu bring for businesses?
A3. Mondu brings access to unsecured funding quickly and securely, a competitively priced unsecured loan tailored to the particular needs of the business, and helps businesses make informed decisions on when to take out loans and how much to take out.
Examples
Due to the global pandemic the past year, many businesses have needed access to short-term funding to help them stay afloat. Businesses ranging from restaurants to retail stores have resorted to taking out loans from banks and other financial institutions.
Mondu offers an innovative alternative. For example, Let’s assume a restaurant in Berlin needs €20,000 in working capital. Instead of resorting to traditional banks and other financial institutions, they can access money quickly and securely using Mondu’s services. Mondu’s unsecured loans come at a competitive interest rate and will help to keep the restaurant running until it overcomes the present crisis.
Conclusion
Berlin-based Mondu’s innovative business-to-business (B2B) financial services has been lauded for providing businesses access to short-term, unsecured funding. The latest Series A round of funding from venture capitalist Peter Thiel has enabled Mondu to continue providing access to market-rate loans to businesses in need of short-term funding. Mondu’s services brings about a number of benefits for businesses that use their services, including access to quick and secure unsecured funding and help in making informed decisions on when to take out loans and how much to take out.
