Ukbased Modulr Api 108m Series Atlanticfaridi Funding Led by Francisco Partners

Ukbased Modulr Api 108m Series Atlanticfaridi – Modulr API, the UK-based fintech firm, has recently announced a successful $108m Series E funding round led by US-based investor, Francisco Partners. This funding brings Modulr’s total capital raised to $228m, making it one of the most well-funded fintech firms in the UK. Modulr is an API-based payments platform that enables businesses to manage payments more efficiently and effectively. In this article, we will explore the significance of this funding round and what it means for Modulr and the broader fintech industry.

Modulr API’s platform allows businesses to manage payments through an API, which can be integrated into their existing systems. This means that businesses can automate their payment processes, reducing the risk of errors and delays and saving time and money. The platform can also be used to manage multiple payment flows, including payroll, supplier payments, and customer refunds.

The funding round was led by Francisco Partners, a global private equity firm that specializes in technology investments. The firm has a strong track record of backing successful fintech companies, including eFront, which was sold to BlackRock in 2019 for $1.3bn. Other investors in the round included existing investors, such as Frog Capital and Highland Europe, as well as new investors, including FIS Ventures and RPMI Railpen.

The $108m funding round is significant for Modulr, as it will enable the company to accelerate its growth plans and invest in its technology and team. Modulr plans to use the funding to expand its platform’s capabilities, increase its geographic reach, and develop new partnerships. The company also plans to double its workforce, hiring more than 500 new staff over the next three years.

Modulr’s growth plans align with the broader trends in the fintech industry. The pandemic has accelerated the shift towards digital payments, with businesses and consumers increasingly turning to online and mobile channels. This has created significant opportunities for fintech firms that can offer more efficient and flexible payment solutions. According to a recent report by Accenture, global fintech investment reached a record high of $44.2bn in 2020, up 14% from 2019.

Modulr’s platform is well-positioned to take advantage of these trends, as it enables businesses to manage payments more efficiently and securely. The company has already seen strong growth, with its revenue increasing by 300% in 2020. Modulr also recently announced a partnership with Visa, which will enable it to expand its reach and offer new services to its customers.

The funding round also reflects the increasing interest in the UK fintech sector from US investors. The UK has a vibrant fintech ecosystem, with a strong talent pool, supportive regulatory environment, and access to capital. However, UK fintech firms have often struggled to scale and compete globally, due to the dominance of US tech giants and the fragmented European market.

The investment from Francisco Partners and other US investors could help to address this challenge, by providing UK fintech firms with the capital and expertise they need to expand internationally. The UK government has also recently announced a series of initiatives to support the fintech sector, including a new visa scheme to attract international talent and a £375m investment fund to support high-growth companies.

Overall, the $108m funding round for Modulr API is a significant milestone for the company and the broader UK fintech industry. The funding will enable Modulr to accelerate its growth plans and invest in its technology and team, while also helping to position the UK as a leading hub for fintech innovation. With the global shift towards digital payments set to continue, Modulr is well-placed to capitalize on the opportunities in the market and deliver value to its customers.