J.P. Morgan Payments has provided a EUR 100 million funding facility to Mondu, the Germany-based B2B payments platform, as the bank steps deeper into Europe’s fast-formalising market for B2B buy-now-pay-later (BNPL) and invoice-based trade payments.
The financing supports Mondu’s expansion across European markets at a moment when B2B commerce is shifting toward consumer-like checkout experiences, and when regulated infrastructure is becoming a prerequisite for scale rather than a nice-to-have.
Why this deal matters
For J.P. Morgan Payments, the facility is a clear bet that B2B BNPL is graduating from a niche product into a core payments capability. The prize is large: invoice terms remain the default in many B2B categories, but the rails, risk management and user experience are being rebuilt to match modern e-commerce.
For Mondu, the funding provides additional firepower to grow transaction volumes and broaden coverage in markets where localisation and regulated operations determine who wins. Mondu operates as a B2B payments platform serving more than 300,000 sellers and buyers across 30-plus European countries and holds an electronic money institution (EMI) licence from the Dutch central bank (DNB), alongside UK FCA registration, enabling regulated operations across the EEA.
That regulatory footing is central to the story. In B2B BNPL, underwriting, settlement and collections sit directly on the critical path of cash flow for merchants and buyers. Platforms with the licences and controls to operate cross-border can scale faster, partner more easily and reduce friction in enterprise procurement.
A sector moving from product to infrastructure
The facility lands amid broader consolidation and institutionalisation in European payments. As B2B BNPL matures, it is increasingly bundled with fraud protection, reconciliation and enterprise integrations rather than sold as a standalone credit option.
Mondu’s pitch aligns with that direction. The company offers payment options such as 30-90 day invoices and instalments, with real-time authorisation up to EUR 1 million and high approval rates. It also positions itself around operational tooling, including automated reconciliation and ERP/CRM integrations.
Performance metrics are helping pull demand through. Mondu reports that its B2B BNPL solutions have driven materially higher conversion economics for clients, including a 4.5x increase in average order value and a 57% increase in basket size in the case of Kingspan. In B2B, where product complexity and purchasing controls traditionally suppress conversion, those numbers strengthen the case for embedding financing directly at checkout.
Partnerships and localisation as the scaling playbook
Europe’s fragmentation makes distribution and integration a core competitive differentiator. Mondu has been expanding through partnerships designed to localise payments and improve integration, including collaborations with Payin3 in the Netherlands and Lemonway in France following its EMI licence milestone in July 2024. Additional partnerships with Acquired.com and Atradius add further flexibility across payment acceptance and risk management.
This partnership-led approach matches the way B2B commerce is evolving: marketplaces and vertical platforms want financing and invoicing capabilities that slot into existing stacks, rather than a single-provider rip-and-replace.
Risks to watch
The main risk is not demand, it is credit and execution. As volumes rise, underwriting discipline and collections performance determine whether growth is profitable and resilient. B2B BNPL also faces a more complex operating environment than consumer BNPL, with higher ticket sizes, longer payment cycles and cross-border legal variation.
Regulation is another factor, but here Mondu’s licensing and registrations are a mitigant rather than a vulnerability. The more the sector is scrutinised, the more advantage accrues to platforms that can demonstrate controlled, regulated operations and robust fraud and reconciliation tooling.
Outlook
This funding underlines a with-trend shift: banks and large payments institutions are moving closer to the point of purchase in B2B, and specialised platforms are building the workflows that make invoice terms feel like modern payments.
For Mondu, the EUR 100 million facility strengthens its ability to scale across Europe and deepen integrations with platforms and merchants. For J.P. Morgan Payments, it is a strategic foothold in a segment where payment acceptance, embedded credit and treasury-grade controls are converging into one product category: B2B payments infrastructure.