UK-based Payments-as-a-Service fintech startup, Modulr, has secured strategic investment from FIS Ventures, the venture capital arm of the Fortune 500 US financial services firm FIS. FIS joins Paypal Ventures as an investor in Modulr, which inveted £9 million in November 2020.
Founded in 2015, the London headquarterd fintech start-up enables payments infrastructure and is capitalising on the B2B payments digitisation opportunity across Europe for other fintechs including Revolut, Iwoca, Sage and Mode. Its platform powers users to automate payment flows, embed payments into the platform, and build new payment products and services themselves from a single API. Modulr has direct access to the Bank of England and claims to facilitate a fast experience that digital customers demand.