# Modulr Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modulr-finance

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.modulrfinance.com
- Total disclosed funding: $109M
- Latest round: Series C (May 18, 2022)
- Investors on record: 6

## About

Modulr Finance Limited is a UK-based company specializing in embedded payment solutions, streamlining payment automation for various sectors, including payroll and accounts payable, enhancing operational efficiency for its clients.Founded in 2015, Modulr Finance Limited operates from London, UK, providing innovative payment solutions designed for businesses. The company has successfully completed 7 deals, with its most recent funding round being a Series C, which took place on May 18, 2022, where it raised GBP 83 million. The round was led by General Atlantic, with participation from Blenheim Chalcot, Frog Capital, Highland Europe, and PayPal Ventures. Modulr was co-founded by Myles Stephenson and Ritesh Tendulkar, who have backgrounds in technology and finance.Modulr specializes in providing embedded payment solutions that streamline payment automation across multiple sectors, including payroll, accounts payable, travel, and merchant payments. Their offerings enable businesses to automate payroll and manage accounts payable processes efficiently. Modulr allows clients to fund and collect payments instantly, issue virtual and physical payment cards, and access a diverse range of accounts in various currencies. Its solutions cater to a broad customer base, including businesses of all sizes, accountants, bookkeepers, and payroll bureaus, primarily operating in the UK and across Europe. Modulr's products integrate seamlessly into clients' existing systems through user-friendly online portals or APIs, enhancing operational efficiencies and customer experiences.In the most recent year, Modulr reported revenue of GBP 45,565,365.1. The company generates revenue primarily through transaction fees associated with its payment services, including automated payroll processing and accounts payable solutions. Clients subscribe to various plans that grant access to Modulr’s suite of payment products, facilitating efficient and secure payment management.Following the Series C funding of GBP 83 million in May 2022, Modulr Finance Limited plans to utilize this capital to expand into new markets in the UK and Europe. The company is focused on designing and launching upcoming products tailored to enhance its payment solutions, aiming to broaden its market reach and serve an increasing number of clients. These initiatives highlight Modulr's commitment to advancing its service offerings and scalability in the dynamic fintech landscape.

## Funding rounds

- Series C, May 18, 2022, $109M — General Atlantic, Frog Capital, Connection Capital, BCI Capital, Highland Europe, PayPal Ventures

## Investors

- General Atlantic (https://capitalatlas.ai/funds/general-atlantic) — Series C
- Frog Capital (https://capitalatlas.ai/funds/frog-capital) — Series C
- Connection Capital — Series C
- BCI Capital (https://capitalatlas.ai/funds/bci-capital) — Series C
- Highland Europe (https://capitalatlas.ai/funds/highland-europe) — Series C
- PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series C