Modulr, the payments automation platform, has announced it has secured $103.0 million in its latest funding round. This significant investment will support the company's ongoing mission to streamline money movement for businesses through its robust platform.
Modulr specializes in automating payment and reconciliation workflows, designed to eliminate manual processes, reduce operational costs, and minimize errors. The platform processes over 200 million transactions and more than £180 billion in annualised payments value, serving over 6,000 businesses, from fast-growing SMEs to global enterprises. It automates various financial operations, including payroll, supplier payments, spend management, and payment collection, integrating with more than 20 leading accounting and payroll systems.
The capital raised in this funding round is intended to accelerate Modulr's strategic growth initiatives. The company plans to use the funds to further enhance its payments automation platform, expand its product offerings, and extend its market reach. This investment underscores confidence in Modulr's technology and its role in driving the future of finance operations by providing accurate, controlled, and reliable payment solutions at scale.
Modulr's infrastructure includes principal memberships of global payment networks such as Visa and Mastercard, alongside direct access to central bank infrastructure, ensuring broad reach, speed, and resilience. With over a decade of experience as a regulated payments provider, the company is positioned to continue delivering mission-critical finance operations. This funding will enable Modulr to further solidify its position as a leader in payments automation and support its ambitious plans for continued expansion and innovation in the financial technology sector.
