Money 2020 – Focus On: Modulr

Who are Modulr?

The payments environment is an increasingly complicated landscape. Digital is growing quickly, new business models are appearing and regulation is tightening. Companies are caught in the middle, with their existing payments infrastructure taking strain and starting to limit how they do business.

Modulr was set up to overcome these barriers by enabling businesses to rewire their payment processes to suit them. Whether simple or complex payment flows, their automated systems enable them to bring customers on board much faster, make payment paths simple, and give the control and visibility they need to scale up.

How has the Venture Builder model helped Modulr to accelerate the journey from founding to today?

One of the many challenges of founding a business is getting up-and-running operationally without losing focus on developing that great product that you want to take to market. It’s a balancing act that all start-ups need to perform in order to be successful and make a good first impression on our target markets. Modulr has drawn upon the expertise and resources of Blenheim Chalcot to get off the ground and then accelerate their growth by complementing the skills of their internal team with those of Blenheim Chalcot’s.

Modulr has also gained from having a close network of ventures to collaborate and ideate with which has created mutually beneficial new business opportunities. For example, Salary Finance and Liberis are both Modulr clients and are able to offer a differentiated service to their customers by using Modulr’s payment platform.

Since their formation in 2015, Modulr have:

• Experienced tremendous growth since it was founded and continues to grow rapidly.
•  Employs well over 100 people in three office locations (London, Edinburgh and Dublin) and the hard work of those teams has been recognised with several industry accolades including the Emerging Payments Awards, The Rewards and the Lending Awards.
• Have almost 100 clients across alternative lending, payroll, employment services, accounting software, fintech and travel.
• Entered into partnerships agreements with Sage and Paxport to support their customers with their payment needs.
• In May 2019, the total value of payments in and out of its platform since the start of 2017 exceeded £10 billion.

“Our focus for 2019 and beyond is to continue to scale up the business by growing market share domestically and expanding into Europe. The ongoing support from Blenheim Chalcot helps us to accelerate our plans to achieve this” said Modulr CEO, Myles Stephenson.

Myles will be appearing on Blenheim Chalcot’s Money 2020 panel on Friday 3rd June at 5:30pm on The Lab Stage. For more information, please click here.