Modulr provides a software-driven platform that enables businesses to automate and manage complex payment processes, including accounts payable and payroll, through a single API. By offering instant fund disbursements and streamlined payment flows, Modulr addresses the inefficiencies and security concerns associated with traditional payment systems.
Funding
$210.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GAFounders
Product
Problem
Many businesses face challenges in automating and efficiently managing complex payment processes, leading to increased operational costs and potential security vulnerabilities. Traditional payment systems often lack the flexibility and real-time capabilities required for modern business needs, resulting in delays and reconciliation issues.
Solution
Modulr provides a software-driven platform that enables businesses to automate and manage intricate payment workflows through a unified API or a user-friendly online portal. The platform offers instant fund disbursements, streamlining accounts payable and payroll processes, while ensuring robust security and control. By directly participating in payment schemes like Faster Payments and Bacs, and connecting to CHAPS, SEPA, and SWIFT, Modulr facilitates seamless transactions. Businesses can leverage Modulr's accounts, pay-in and collection tools, pay-out services, and card issuing capabilities to optimize their payment infrastructure. The platform's modular design allows businesses to configure solutions tailored to their specific needs, enhancing automation, insights, and control over payment flows.
Target Audience
Modulr primarily serves businesses of all sizes, accountants, bookkeepers, payroll bureaus, and vertical markets such as travel, lending, merchant services, and investment/wealth management firms seeking to streamline and automate their payment processes.
Features
- Unified platform accessible via API or online portal for managing diverse payment processes
- Real-time payment capabilities with instant fund disbursements and notifications
- Direct connectivity to Faster Payments, Bacs, CHAPS, SEPA, and SWIFT payment schemes
- Virtual and physical card issuing for enhanced payment flexibility
- Comprehensive suite of pay-in and collection tools, including Payment Initiation Service and Direct Debits
- Advanced fraud and risk management tools to safeguard transactions
- Integration capabilities with accounting, payroll, and other business software
- 24/7 platform availability with a cloud-based microservices architecture
- Multi-currency account support