Mondu partners with Mangopay to fuel growth in B2B marketplaces through flexible payments
Mangopay and Mondu collaborate to support B2B marketplace businesses through flexible payments infrastructure and payments terms
Dec 05, 2023
London, UK; 5 December 2023 – Mondu, the fast-growing B2B payments company, today announces a new collaboration with Mangopay, a modular and flexible payment infrastructure provider for marketplaces and platforms.
Through the partnership, the two companies will offer marketplaces across Europe a proven, modular payments infrastructure which can be tailored to meet their needs, with popular B2B payment methods and flexible payment terms.
Mondu first launched in 2021 in Germany with a Buy Now, Pay Later (BNPL) B2B solution for merchants and marketplaces and has since expanded to Austria, the Netherlands and the UK, and is available to buyers in Belgium and France. Its flexible payment solutions include net terms, instalments and digital trade accounts for online checkouts as well as in-person and telesales.
Founded in 2013, Mangopay supports multiple business models in the platform economy with its modular payment infrastructure. The company has supported over 2,500 platforms and marketplaces through its programmable e-wallet solution and end-to-end payment infrastructure which covers everything from pay-in to payout.
With market reports suggesting that the B2B marketplace industry has grown by as much as 8.6 times since 2015, the payment experience continues to play a key role in the growth of businesses operating in the sector. The collaboration between Mangopay and Mondu aims to empower B2B marketplaces with robust tools and a choice of payment methods to manage their payment flows with more flexibility, including those looking to introduce a buy now, pay later service to their B2B customers.
Luke Trayfoot, Chief Revenue Officer at Mangopay, said: “At Mangopay we’re committed to finding new and innovative ways to help our platform customers create and operate payments infrastructures that will help their businesses to scale. Partners such as Mondu are an important part of our strategy, and collaborations like this further strengthen our proposition for B2B marketplaces and platforms. We’re delighted to form this new partnership with Mondu to offer B2B marketplaces more flexibility and easy access to popular payment methods such as buy now, pay later.”
Malte Huffmann, Co-Founder and Co-CEO of Mondu added: “Mondu and Mangopay are completely aligned in our vision to simplify the payments process for marketplaces and empower the end customer to purchase and pay how and when they want. Payments play a key role in creating a seamless customer experience, and it’s through this that B2B marketplaces can grow sales volume through improved conversion rates and higher order values, helping to drive business growth. Mangopay provides a fantastic infrastructure service to its clients and we’re excited to partner with them.”
Notes to Editors
Mangopay - email@example.com
Mangopay empowers the platform economy with its modular payment infrastructure. Created in 2013, Mangopay has supported 2,500+ platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay’s end-to-end infrastructure covers platform payment needs, from pay-in to payout, for many platform business models and workflows. In March 2023, Mangopay was named “Best Platform and Marketplace Provider” at the Merchant Payments Ecosystem (MPE) Awards for providing best-in-class payment services to marketplaces and platforms and in October 2023 it was named one of FXC Intelligence’s most promising cross-border payment companies. www.mangopay.com
Mondu is driving innovation in B2B payments. By bringing B2B payments up to par with B2C and putting customers at the heart of the payment flow, Mondu ensures a seamless and state-of-the-art experience.
Mondu's solution enables merchants and marketplaces to offer their business customers across Europe the most popular B2B payment methods and flexible payment terms in a multi-channel setting, both online and offline. The result is a win-win story: business customers are empowered to purchase and pay when they want. This translates to a higher conversion rate and average order value, ultimately driving growth for merchants and marketplaces.
Mondu was founded in 2021 by entrepreneurs Malte Huffmann, Philipp Povel and Gil Danziger to simplify B2B payment transactions. Mondu now has offices in three markets - Germany, the Netherlands and the UK - and a diverse team of talented professionals with experience from the best companies in tech and elsewhere. Mondu has raised $90 million in equity and debt financing from leading investors Valar Ventures, Cherry Ventures, the FinTech Collective, and VVRB Bank. www.mondu.ai