Modulr receives strategic investment from the venture arm of FIS

Share this post

We’re pleased to say that Modulr has secured new investment from FIS Ventures, the corporate venture arm of global financial technology leader FIS, for an undisclosed amount.

FIS plans to leverage our API-based payments infrastructure to facilitate and automate real-time, business-to-business, payments in the U.K. and Europe as part of FIS’ broader real-time payments strategy.

We’re tapping into the massive business-to-business payments digitisation opportunity by working with software platforms that serve small and medium-sized businesses. 2020 was a breakout year for the company as it signed up a number of large enterprise customers, despite the macro economic challenges posed by COVID-19.

Myles Stephenson, CEO at Modulr comments: “FIS and Modulr share the same ambition, to enable businesses to move fast and transform their payment processes, software and experiences in line with the digital world. We look forward to working with FIS to develop and deliver better payments solutions and innovative services to businesses of all sizes.”

Asif Ramji, chief growth officer at FIS, comments: “Our investment in Modulr is a key component of our comprehensive vision at FIS to bring the full power and potential of real-time payments to organizations at a global scale. Working with Modulr, we’ll be able to help our clients in the UK and EEA market accelerate their journey to digital payments, as well as work towards delivering a suite of new global real-time payment propositions.”

We enable digital businesses and software platforms across a growing range of sectors including lending, banking, fintech, travel, employment services and accounting to easily automate, embed and build new payment services within their customer journey. With our full stack Payments-as-a-Service API, it handles much of the complexities and regulatory overhead, so that our clients can focus on their own unique value proposition.

In the last year, we’ve become a directly connected participant of the Bacs scheme, alongside direct participation in the Faster Payments scheme, enabling us to settle and hold funds at the Bank of England. We’ve also further added direct access to Visa and Mastercard, as well as delivering innovative new products including Payment Initiation and Confirmation of Payee. We were also most recently granted an electronic money licence from the Central Bank of Ireland which marks an important step in the company’s European ambitions.

Most recently, we’ve received investment from PayPal Ventures in late 2020 and have raised a total £63.3 million from the former, Highland Europe, Frog Capital, Blenheim Chalcot and a £10m grant from the Capability and Innovation Fund. We also ranked as the second fastest growing tech company in 2021 by Dun&Bradstreet.

More To Explore

Membership

Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.

Welcome

Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?