Modulr Raises $108 Million in Series C  

by Kay Aloha Villamor in May 23rd, 2022

Modulr, a London, UK-based embedded payments platform for digital businesses, announced that it raised $108 million (£83m) in Series C funding.

The round was led by General Atlantic, a leading global growth equity firm, with participation from existing investors including Blenheim Chalcot, Frog Capital, Highland Europe, and PayPal Ventures.

Modulr intends to use the funding to accelerate its geographic footprint, extending its client and partner coverage in existing and new market verticals in the UK and Europe. 

Company: Modulr Finance Limited

Raised: $108.0M

Round: Series C

Funding Month: May 2022

Lead Investors: General Atlantic

Additional Investors: Blenheim Chalcot, Frog Capital, Highland Europe, and PayPal Ventures

Company Website: https://www.modulrfinance.com/

Software Category: Embedded Payments Platform

About the Company: Modulr is a pioneer in the provision of embedded payments across a range of vertical markets. Its technology enables businesses to build payments directly into their platforms without needing to build complicated payment systems, become regulated themselves, or manage the complexities of payment network membership. Since its inception in 2016 Modulr has grown to become a leading provider of embedded payments to digital businesses across the UK and Europe. Delivered using Modulr’s modern FinOps hub, Modulr enables 200+ clients to automate, control and embed payments and is now processing an annualized transaction value of more than £100bn. Modulr enables businesses such as Revolut, Sage, Wagestream, and BrightPay to build payments directly into their platforms without needing to build complicated payment systems, become regulated themselves, or manage the complexities of payment network membership. With more than 300 colleagues and offices in London, Edinburgh, Dublin, and Amsterdam, Modulr is authorized by the UK’s FCA, the Central Bank of Ireland, and the Dutch Central Bank as an Electronic Money Institution.

                                     

Source: https://www.modulrfinance.com/blog/modulr-raises-108m-in-series-c-funding-round-led-by-general-atlantic







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