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April 14, 2021

Fintech Modulr secures new investment from FIS Ventures

By Shalini mani

UK-based fintech Modulr has secured a new investment from FIS Ventures, the corporate venture arm of financial technology company FIS.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
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The terms and size of the investment were not disclosed. It follows the firm’s £18.9m funding round in last May.

Modulr enables digital businesses and software platforms across multiple sectors to automate, embed, and build new payment services.

FIS aims to utilise Modulr’s API-based payments infrastructure to facilitate and automate business-to-business (B2B payments) in the UK and Europe as part of its expanded real-time payments strategy.

The fintech said it is currently working with software platforms that serve small and medium-sized businesses to tap B2B payments digitisation opportunity.

Commenting on the development, Modulr CEO Myles Stephenson said: “FIS and Modulr share the same ambition, to enable businesses to move fast and transform their payment processes, software and experiences in line with the digital world.

“We look forward to working with FIS to develop and deliver better payments solutions and innovative services to businesses of all sizes.”

FIS chief growth officer Asif Ramji said the investment in Modulr is a key component of its comprehensive vision to offer real-time payments to organisations at a global scale.

Ramji said: “Working with Modulr, we’ll be able to help our clients in the UK and EEA market accelerate their journey to digital payments, as well as work towards delivering a suite of new global real-time payment propositions.”

Last October, Modulr received its electronic money institution licence from the Central Bank of Ireland (CBI).

In September last year, the firm rolled out Confirmation of Payee, a fraud prevention initiative spearheaded by retail payments authority Pay.UK.

Modulr also added direct access to Visa and Mastercard during that year.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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