About Modulr Finance
Modulr Finance is a Financial Services company based in London (United Kingdom) founded in 2015 by Ritesh Tendulkar, Manoj Kumar Bithal, Manoj Kumar Badale, and Myles Stephenson. API-enabled payments infrastructure is provided for business integration. 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. Modulr Finance has completed 1 acquisition, including Nook. Modulr Finance was last valued at $146.97 million in November 2020. Its chief executive, as recorded, is Myles Stephenson. Its website modulrfinance.com draws about 103 thousand monthly visits. Its focus areas include FinTech, Payments, Enablers and Open Banking APIs. Its legal entity is MODULR FINANCE LIMITED. Its competitors include Banked, Yapily and TrueLayer; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters London, United Kingdom
- Employees 510
- Founders Ritesh Tendulkar, Manoj Kumar Bithal, Manoj Kumar Badale, Myles Stephenson
- Stage Minicorn
- SectorsFinancial Services
- Website category Finance · Financial Planning and Management
- Email••••••••
- Website modulrfinance.com
- Social LinkedIn X Facebook
- Legal Name Modulr Finance Limited
- Date of Incorporation 02 Dec, 2015
- Jurisdiction LONDON, UNITED KINGDOM
- Annual Revenue$45.56 M (USD)37as on Dec 31, 2023
- Net Profit-$1.8 M (USD)10as on Dec 31, 2023
- EBITDA-$1.8 M (USD)10as on Dec 31, 2023
- Total Equity Funding$199.56M (USD)
in 12 rounds
- Latest Funding Round$112.54M (USD), Series C
May 2022
- InvestorsPayPal
& 6 more
- Employee Count510
- Investments & Acquisitions
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 $199.56M
- Total Rounds 12
- Last Round Series C — $112.54M
- First Round $2.47M
(Feb 2016)
- Investors Count 7
Latest 10 of 12 funding rounds of Modulr Finance with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2022 | $112.54M | Series C | – | General Atlantic | |
| Apr 2021 | Series C | – | FIS Impact Ventures | – | |
| Nov 2020 | $16.43M | Series C | $146.97M | PayPal | – |
| Mar 2020 | $33.8M | Series C | $113.82M | Highland Europe | |
| Aug 2019 | $12.07M | Grant | – | – | |
| Mar 2019 | $19.4M | Series B | $••••• | Frog Capital | |
| Jun 2018 | $7.4M | Series A | $••••• | Blenheim Chalcot | – |
| Dec 2017 | $3.48M | Seed | $••••• | – | – |
| Jun 2017 | $2.4M | Seed | $••••• | – | – |
| Nov 2016 | $1.5M | Seed | $••••• | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Nov 2020 | $146.97M | •••••••• |
| Mar 2020 | $113.82M | •••••••• |
| Mar 2019 | $••••• | •••••••• |
| Jun 2018 | $••••• | •••••••• |
| Dec 2017 | $••••• | •••••••• |
| Jun 2017 | $••••• | •••••••• |
| Nov 2016 | $••••• | •••••••• |
| Sep 2016 | $••••• | •••••••• |
Full valuation and stage history of Modulr Finance
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
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Last known valuation $146.97M (Nov 2020). 7 investors in total: 7 institutional.
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 |
|---|---|---|---|---|
Private equity fund focused on global markets | 1980 | generalatlantic.com | New York, United States | |
Digital venture accelerator firm | blenheimchalcot.com | London, United Kingdom | ||
Venture capital firm investing in European software scale-up companies | frogcapital.com | London, United Kingdom | ||
Growth-stage consumer and enterprise technology companies are funded. | highlandeurope.com | London, United Kingdom | ||
Venture capital and accelerator firm focused on fintech companies | fisimpactventures.com | Jacksonville, United States | ||
Online payment solutions are offered to consumers and businesses. | 1998 | paypal.com | San Jose, United States | |
| bcr-ltd.com |
Investor details for Modulr Finance
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Modulr Finance
111 people are tracked at Modulr Finance (37 in leadership, 7 in board & advisors, 67 in team); the tracked headcount is 510.
| Name | Role | Group |
|---|---|---|
Ritesh Tendulkar | Co-Founder | Leadership |
Manoj Kumar Bithal | Co-Founder | Leadership |
Manoj Kumar Badale | Co-Founder | Leadership |
Myles Stephenson | Co-Founder & CEO | Leadership |
Gordon Mitchell | Account Director | Leadership |
Stefan Batchelor | HR Business Partner | Leadership |
John Browne | Financial Crime Manager - Direct & Partner Onboarding | Leadership |
Annette Pilgrim | Executive Assistant To Myles Stephenson, Founder And CEO | Leadership |
Owen Price | Director Of Fp&a | Leadership |
Jody Clark | VP Enterprise Sales | Leadership |
Lois Rennie | Account Director | Leadership |
Martyn Cook | Director, People & Culture | Leadership |
Andrew Griffin | Chief Financial Officer | Leadership |
Michael Clarke | Director Of Engineering | Leadership |
Tom Kelly | Sales Director | Leadership |
Melek Pirgon | Chief Product Officer | Leadership |
Jennifer Tucker | Head Of People Services | Leadership |
Maia S. | Partner Oversight Senior Analyst | Leadership |
Emanuel Carlos | Financial Crime Analyst – Partner Oversight | Leadership |
Michael Venn | Group Head Of Risk & Compliance (mlro) | Leadership |
91 more people are available in the full profile.
Complete people profiles for Modulr Finance
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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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 | Acquired | Amount |
|---|---|---|---|---|---|---|
Nook is integrated into Modulr as an accounts payable solution. | nook.io | London, United Kingdom | 2015 | Nov 2024 | •••• |
Complete acquisition details for Modulr Finance
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Timeline of Modulr Finance
5 dated milestones of Modulr Finance across 9 years, from founding to its latest funding, stage changes and deals.
- Founded Modulr Finance is founded.
- Funding First funding round of $2.5M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $112.5M.
- Acquisition Acquires Nook.
Competitors of Modulr Finance
Modulr Finance has 3 listed competitors in our database, 3 of them funded. They include Banked, Yapily and TrueLayer.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| banked.com | 2018 | London, United Kingdom | $39.85M | 25 | Open banking APIs for payments and data access are provided. | |
| yapily.com | 2017 | London, United Kingdom | $70.78M | 79 | Platform offering open banking API solutions for payment infrastructure to banks and businesses | |
| truelayer.com | 2016 | London, United Kingdom | $348.8M | Provider of open banking API solutions for payment institutions |
Detailed competitors of Modulr Finance
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Web traffic of Modulr Finance
The website of Modulr Finance (modulrfinance.com) receives about 102.7K visits a month and ranks #272,044 among all websites worldwide, #3,652 in Financial Planning and Management.
- Monthly visits102.7K
▼ 2.6% vs previous month
- Unique visitors40.5K
per month
- Global rank#272,044
among all websites
- Category rank#3,652
Finance · Financial Planning and Management
- Bounce rate35%
- Pages per visit4.6
- Average visit2 min 37 sec
- DevicesDesktop 33% · Mobile 67%
Websites whose visitors overlap most with Modulr Finance. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| brightpay.co.uk | 100% | 80.4K | #569,103 | View details | |
| bottomline.com | 96% | 74K | #434,349 | View details | |
| getground.co.uk | 95% | 98.1K | #436,976 | View details | |
elavon.co.uk | elavon.co.uk | 94% | #858,276 | – | |
| thistleinitiatives.co.uk | 94% | 5.5K | #2,770,766 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 39 similar websites and full traffic analytics for Modulr Finance
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Related news about Modulr Finance
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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 CEO of Modulr Finance, as recorded in our data. 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 Seed of $1.5M, raised on Feb 2016.
Modulr Finance has 510 employees.
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.
Modulr Finance operates through Modulr Finance Limited.