Mondu bags EMI license in the Netherlands

By Gloria Methri

B2B FinTech Mondu has secured an Electronic Money Institution (EMI) license from De Nederlandsche Bank (DNB), strengthening its expansion across Europe. The license will enable the company to support more customers and launch complementary payment services like eWallets and Credit Cards.

The Dutch Mondu entity was incorporated in June 2022 and is headquartered in Amsterdam. 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).

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 for the entire Mondu team. Now, our eyes are firmly set on European expansion and launching additional payment products.”

Miyu Lee, Chief Legal & 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 pass our EMI license across Europe, it will help us accelerate our geographical expansion. The license also allows us to operate within our regulatory framework, which is highly secure and fully compliant with all applicable legislation. It helps to develop our product offering further, 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. It is currently available to businesses in the Netherlands, Germany, Austria, the UK, Belgium, Switzerland, and France.