The company will deepen its presence in these two regions and will support the development of product functionalities designed specifically for the French and Spanish markets. Modulr has received regulatory and branch registration approvals from the Banque de France and Banco de España, which will allow it to develop localised functionalities and increase the competitiveness of regional firms both in-country and across the UK and EEA.
Modulr offers an alternative to traditional corporate bank payments by allowing business payments to operate 24/7, under full software control, and in real time. Companies can leverage Modulr’s account creation APIs to automatically reconcile high-volume income payments thus avoiding manual and lengthy processes. In essence, Modurl can help any software-based business to embed payment and account functionality directly into their own technology stack. It can also support firms in their efforts to move money in a secure and compliant manner across the UK and EEA.
More information about Modulr
Companies that leverage Modulr’s capabilities operate in sectors such as financial services, travel, accounting, payroll, property, and marketplaces. Some of the company’s main products include accounts, payments, and open banking APIs, as well as webhooks for alerting, and physical and virtual card programmes. Modulr is a regulated Electronic Money Institution (EMI) by the Dutch Central Bank (De Nederlandsche Bank) and the Financial Conduct Authority (FCA) in the UK and is a SEPA participant via their integration with the Bank of Lithuania’s CENTROlink system.
In May 2023, Modulr partnered with Israel-based Nilos to launch virtual EU IBANs for companies dealing with crypto in Europe. These virtual EU IBANs were designed to enable businesses to have dedicated crypto-friendly payment accounts, which gives them the ability to create EUR and GBP virtual accounts, make payments across Europe and the UK, and use SEPA and Faster Payment rails.
A year prior, in August 2022, European cryptocurrency app Nebeus announced a partnership with embedded payments platform Modulr to augment its offering with accounts, real-time payments, and Visa cards.
At the time, the move made Nebeus one of the first European companies to leverage Modulr’s card-issuing solution across the UK and Europe. Based in Barcelona, Nebeus is a European cryptocurrency app and desktop platform that offers a full crypto ecosystem which allows users to earn rewards on crypto by staking and renting.
