Modulr: The payment platform raised 83 million pounds
The SaaS technology payment service aims to prevail in the field of pan-European digital transactions
Modulr,the payment platform raised 83 million pounds in a series C funding round led by the General Atlantic.
Modulr provides payment infrastructure to over 200 top customers, including Revolut, Wagestream, Sage and BrightPay, and to date processes worth 100 billion pounds annually.
With over 300 employees and offices in London, Edinburgh, Dublin and Amsterdam, Modulr is licensed by the UK FCA, the Central Bank of Ireland and the Central Bank of the Netherlands as a digital money service.
“This latest round of funding will help Modulr become the champion of pan-European payments. Our regulatory and licensing licenses, our technology stack and our modern and dynamic service offering make it possible for our customers to automate and leverage payments.”, said Myles Stephenson, founder and CEO of Modulr.
He says Modulr will use the funding to increase its geographic footprint, expanding the coverage of its customers and partners to existing and new vertical markets in the UK and Europe. As part of the products, the company intends to further expand the use of account-to-account payments and open-bank payments, as well as provide customers with usable data information.
The company should be able to provide its services to all customers. Our ambition is to consolidate Modulr’s position as a leader in the integration of FinTech into business across the UK and Europe.Our modern FinOps hub enables large companies, fintechs and digital businesses to create, scale and control money flows. We believe the opportunities are huge and continue to grow with the rise of digital payments, Stephenson adds.