About Modulr Finance
Modulr Finance is a company based in London (United Kingdom) founded in 2015 by Ritesh Tendulkar, Manoj Kumar Bithal, Manoj Kumar Badale, and Myles Stephenson. Modulr Finance has raised $199.56 million across 12 funding rounds from investors including PayPal, General Atlantic and Blenheim Chalcot. The company has 510 employees as of December 31, 2023. Modulr Finance has completed 1 acquisition, including Nook. Modulr Finance operates in a competitive market with competitors including Zeta, Tink, Banked, Yapily and TrueLayer, among others.
- Headquarter London, United Kingdom
- Employees 510 as on 31 Dec, 2023
- Founders Ritesh Tendulkar, Manoj Kumar Bithal, Manoj Kumar Badale, Myles Stephenson
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Modulr Finance Limited
- Date of Incorporation 02 Dec, 2015
- Jurisdiction LONDON, UNITED KINGDOM
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Annual Revenue
$45.56 M (USD)37as on Dec 31, 2023
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Net Profit
-$1.8 M (USD)10as on Dec 31, 2023
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EBITDA
-$1.8 M (USD)10as on Dec 31, 2023
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Total Equity Funding
$199.56 M (USD)
in 12 rounds
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Latest Funding Round
$112.54 M (USD), Series C
May 13, 2022
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Investors
PayPal
& 6 more
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Employee Count
510
as on Dec 31, 2023
- Investments & Acquisitions
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People of Modulr Finance
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Software Development Team
33 people
Leadership Team
19 people
Finance and Accounting
8 people
Senior Team
7 people
Head Team
6 people
Human Resources and Administration
5 people
Legal and Compliance
5 people
Sales and Marketing
4 people
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Funding Insights of Modulr Finance
Modulr Finance has successfully raised a total of $199.56M across 12 strategic funding rounds. The most recent funding activity was a Series C round of $112.54 million completed in May 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 12
- Last Round Series C — $112.5M
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First Round
First Round
(01 Feb 2016)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2022 | Amount | Series C - Modulr Finance | Valuation | General Atlantic | |
| Apr, 2021 | Amount | Series C - Modulr Finance | Valuation | FIS Impact Ventures |
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| Nov, 2020 | Amount | Series C - Modulr Finance | Valuation | PayPal |
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Investors in Modulr Finance
Modulr Finance has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include PayPal, General Atlantic and Blenheim Chalcot.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity fund focused on global markets
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Founded Year | Domain | Location | |
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Digital venture accelerator firm
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Founded Year | Domain | Location | |
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Venture capital firm investing in European software scale-up companies
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Founded Year | Domain | Location |
Investments & Acquisitions by Modulr Finance
Modulr Finance has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Nook.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Nook is integrated into Modulr as an accounts payable solution.
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2015 |
Financial Statements - Modulr Finance
Modulr Finance Comparisons
Competitors of Modulr Finance
Modulr Finance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zeta, Tink, Banked, Yapily and TrueLayer, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment and banking solutions are provided to users and banks.
|
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| domain | founded_year | HQ Location |
Tink is recognized as a leading European open banking platform.
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| domain | founded_year | HQ Location |
Open banking APIs for payments and data access are provided.
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| domain | founded_year | HQ Location |
Platform offering open banking API solutions for payment infrastructure to banks and businesses
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| domain | founded_year | HQ Location |
Provider of open banking API solutions for payment institutions
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| domain | founded_year | HQ Location |
Embedded banking infrastructure and payment solutions are provided via APIs.
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Frequently Asked Questions about Modulr Finance
Modulr Finance was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Modulr Finance is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Myles Stephenson is the current CEO of Modulr Finance. They have also founded this company.
Modulr Finance is a funded company, having raised a total of $199.56M across 12 funding rounds to date. The company's 1st funding round was a Series C of $16.43M, raised on Feb 01, 2016.
As of Dec 31, 2023, the latest employee count at Modulr Finance is 510.
Annual revenue of Modulr Finance is $45.56M as on Dec 31, 2023.
Modulr Finance was founded in 2015 and is based in London, United Kingdom. Payments infrastructure solutions are delivered through APIs, allowing payment services to be embedded in business software. Unlimited accounts can be opened, featuring sort codes or Euro IBANs. Funds received are segregated by debtor or payment type, facilitating faster and less manual reconciliation processes in the fintech sector.
Modulr Finance has made 1 acquisition, including Nook.
Modulr Finance has 7 investors. Key investors include PayPal, General Atlantic, Blenheim Chalcot, Frog Capital, and Highland Europe.
The valuation of Modulr Finance is $146.97M as of Nov 2020.