Modulr secures Series D investment from FIS Ventures to drive real time payments
The payments platform has secured strategic backing from the corporate venture arm of FIS.
Modulr provides a payments as a service API that enables digital businesses to embed financial technology into their platforms. The company operates across offices in London, Edinburgh, Dublin, and Amsterdam.
Modulr has secured a Series D investment from FIS Ventures, the corporate venture arm of FIS. The undisclosed funding will support the rollout of real time business payments across the UK and Europe. FIS plans to utilise the infrastructure to help corporate clients accelerate their transition to digital payment systems.
The raise follows a period of growth for Modulr, which secured direct access to payment schemes and obtained an electronic money licence in Ireland. The corporate payments market remains significantly larger than the consumer sector, providing a large addressable opportunity for digital platforms.