Modulr Reports First Full-Year Profit Ahead of US Expansion Plans
UK fintech Modulr, backed by PayPal, has announced its first full-year net profit, marking a significant turnaround from a £11m pre-tax loss in 2024. The company, which processes over 200 million transactions valued at £180bn annually, plans to expand its operations in the US and invest in product development without current fundraising plans. Modulr previously raised £83m in 2022 led by General Atlantic and others.
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Modulr, a UK fintech backed by PayPal, has reported its first full-year net profit, signaling a recovery from a £11m pre-tax loss in 2024. The company processes over 200 million transactions annually, amounting to more than £180bn in payment value.
CEO Myles Stephenson highlighted that this profit allows for investment in products and global expansion. Modulr announced plans to expand into the US through a partnership with FIS, focusing on business payment complexities and AI-powered automation. The company has no current plans for external fundraising.
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