BNPL is dead, long live (B2B) BNPL!? 🤔; Misleading crypto ads: Coinbase & Crypto.com lead the way 🤷‍♂️; Banking & payments infrastructure for Web3 economy (could be huge) 👀

Good Morning FinTech, 31 May

Good morning Everyone,

And happy Tuesday! Today we’re going to look at why BNPL is dead, check how Crypto.com & Coinbase are leading the misleading crypto ads space, and see who’s building the banking & payments infra for the Web3 economy. So without further ado, let’s jump straight into the good stuff:

BNPL is dead, long live (B2B) BNPL!? 🤔

The money 💸 Only 7 months after it raised a $14M seed round last October, Berlin-based B2B Buy Now, Pay Later (BNPL) startup Mondu is to expand across Europe on the back of a $43M Series A round led by Valar Ventures.

Previous investors Cherry Ventures, FinTech Collective, and tech entrepreneurs and senior executives from Klarna, Zalando, and SumUp have continued to support Mondu in its Series A. To date, the company has raised $57M.

The USP 🥊 Mondu’s BNPL product currently allows for flexible payment terms via direct integration into the checkout process of online merchants. If a business customer decides to use one of the payment methods offered (i.e. invoice (Rechnungskauf) and direct debit (Lastschrift)), while also having flexibility with regards to payment terms, Mondu coordinates the processing of the payments as well as associated services.

The firm last month secured a Banking-as-a-Service collaboration with Raisin Bank, which will add a new option for instalment payments in the future, in addition to setting deferred payment dates via the merchant checkout.

So, what does this mean? In short, BNPL is dead, long live (B2B) BNPL! Here’s the takeaway: