Modulr

Edinburgh

The New digital payment account for business

Modulr provides a new type of payment account. Built for businesses that need a faster, easier and more reliable way to move money.

Modulr accounts replace bank accounts for payments

They come with sort codes, access to payment schemes and everything you’d expect. But they’re faster, easier and more reliable.

Instantly open as many as you need. Automate how you get paid, reconcile and make payments. All in real-time, 24/7 through your own systems. Our API integrates accounts into any platform. So you can easily streamline existing services and launch new payment products.

Modulr is the alternative that’s already moving billions of pounds for businesses across alternative lending, payments fintech, payroll services, travel, marketplaces and more.

“We started Modulr to solve one of the biggest frustrations for businesses – the manual nature and time and cost involved in sending and receiving payments. Modulr is built for businesses that need a faster, easier and more reliable way to move money. We do that by combining our API payment platform with our FCA authorisation, access to the payment schemes and our industry leading SLA, which guarantees 24×7 availability.” Myles Stephenson, Modulr’s CEO and founder.

Modulr’s mission is to move money efficiently to power business productivity. The current payments infrastructure is holding businesses back. Modulr is building the new digital payment service to make money flow more efficiently through businesses and the economy.

Since the first pilot client went live in 2016, Modulr has onboarded more than 70 customers and processed £5.1bn (aggregate payment volume) through its platform.

Modulr won Best B2B Payments Programme and Best Technical Organisation supporting Emerging Payments at the Emerging Payments Awards in October 2018. This follows its Payments Startup of the Year win at the Payments Awards 2017.

Modulr has offices centrally located within Britain’s largest financial hubs: Edinburgh and London. The team grew from 35 employees in December 2017 to 75, with plans to increase that number to 100 by December 2018.

The leadership team includes:

  • Myles Stephenson, Chief Executive
  • Kevin Hayes, Chief Financial Officer
  • Martin Threakall, Chief Operating Officer
  • Jakub Zmuda, Chief Product Officer
  • Julie Sutton, Chief Customer Officer
  • Donal Fleming, Chief Information officer
  • Kate Avery, Chief People Officer
  • Marisa Pugh, Marketing Director
  • Chris Brooks, Finance Director

The board includes:

  • Rob Devey, Chair & Senior Non-Executive Director, Modulr Group Board; Modulr FS Limited Board; Chair, Risk Committee
  • Myles Stephenson, Chief Executive & Executive Director, Modulr Group Board; Modulr FS Limited Board
  • Kevin Hayes, Chief Financial Officer & Executive Director, Modulr FS Limited Board
  • Charles Mindenhall, Non-Executive Director, Modulr Group Board
  • Manoj Badale, Non-Executive Director, Modulr Group Board
  • Mark Onyett, Advisor, Modulr Group Board
  • Dan Salmons, Advisor, Modulr Group Board

Overview

  • Funding Stage Series A
  • Trading for 1-5 years
  • Employees 51-99
  • Sector Payments
  • Valuation N/A

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