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Modulr
Modulr was founded in 2016 by a team of payments industry veterans.
Modulr
Modulr was founded in 2016 by a team of payments industry veterans. Its primary business is automating complex business payment flows — payroll, accounts payable, collections, and spend management — through a single platform and API. The firm operates with direct regulatory status as an Electronic Money Institution, eliminating the need to white-label other providers' infrastructure. The firm's deployment model is as both an embedded payments engine for enterprise clients and a direct platform for mid-market finance teams. Modulr targets high-volume, operational use cases. Confirmed deployments include managing payroll at scale, automating supplier accounts payable, and issuing virtual cards for spend management. Its integrations span major enterprise resource planning and human resource information system environments. Modulr operates across the UK and Europe, with offices in London, Edinburgh, Dublin, and Amsterdam, and a technology hub in Mumbai. Modulr has grown to a team of over 400 employees. The firm reports processing £180 billion in annualized transaction value and over 200 million individual transactions. Modulr is venture-backed — its website notes prominent investors including Highland Europe and Frog Capital — and has run a multi-year capital strategy to support its regulatory licensing and direct settlement infrastructure. The firm hit a milestone in 2024, surpassing £100 billion in deposits held in its own name through its UK and EU float program. Modulr's structural differentiator is that it bypasses traditional banking-as-a-service middleware by holding end-user funds directly under its own e-money licenses. This allows the firm to control settlement speed, data quality, and fund safeguarding architecture — making it a direct regulated counterpart to payment schemes including Faster Payments and Bacs in the UK, and SEPA in Europe.
General information
Firm type
Asset Manager
Year founded
2016
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
Scale Space, 58 Wood Lane, London, W12 7RZ, United Kingdom
Additional offices
Edinburgh, United Kingdom · Dublin, Ireland · Amsterdam, Netherlands · Mumbai, India
Sector focus
Frequently asked questions
Does Modulr hold its own regulatory licenses, or does it partner with a bank?
Modulr holds its own Electronic Money Institution (EMI) license with the FCA in the UK and the equivalent in the EU. This direct regulatory posture allows the firm to hold client funds on its own books through a safeguarded float, rather than opening sub-ledgers at a partner bank. It is also a direct participant in both the UK and European settlement schemes, including Faster Payments and SEPA.
How does Modulr source customers, and what segment does it focus on?
Modulr sources both enterprise-scale platform integrations and mid-market corporate finance teams. For payroll, accounts payable, and lending use cases, it sells directly to finance and engineering leaders. For embedded payments, it provides APIs that consumer brands and software companies embed directly into their user journeys, such as digital lending payouts and property management rental collections.
How did Modulr scale its balance sheet and regulated float program?
Modulr raised equity capital from venture investors including Highland Europe and Frog Capital to fund the capital adequacy requirements of its EMI float. The firm has publicly reported a float exceeding £100 billion in 2024, indicating a significant increase in end-user balances held on Modulr's own regulated books rather than in transit through a bank sponsor.
Does Modulr participate in consumer payments or is the platform purely B2B?
Modulr focuses exclusively on business-to-business (B2B) and business-to-consumer (B2C) payment flows initiated by businesses. Its use cases — payroll, supplier payments, lending disbursements, and travel refunds — are all enterprise or mid-market operations. The firm is not consumer-facing and does not operate a retail neobank or direct-to-consumer app.
What existing treasury or ERP systems does Modulr integrate with for accounts payable automation?
Modulr integrates with major accounting, enterprise resource planning, and payroll platforms. Confirmed integrations include Xero, Sage, and Oracle NetSuite. The firm positions its API in the procurement-to-pay workflow, enabling automated supplier payments and real-time reconciliation within existing general ledgers.
Is Modulr a venture-backed startup or an established paytech, and what is its governance posture?
Modulr operates as a scale-up that is still venture-backed by growth-stage firms, but it has reached institutional operations with £180 billion in annual transaction volume. Its board structure is not publicly detailed beyond the founding team and venture representatives. As an FCA-regulated EMI, it must maintain independent non-executive directors and a formal risk and compliance committee.
What are Modulr's known regional limitations for direct settlement?
Modulr can settle directly in the UK via Faster Payments and Bacs, and across the Eurozone via SEPA Instant and SEPA Credit Transfer. It does not hold a direct US money transmission license and does not publicly offer domestic settlement in markets outside the UK and single euro payments area.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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