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Reading's Osborne Clarke advises firms on hefty Modulr investment

By Steve Charnock
1 June 2022

Lawyers at the Reading branch of legal practice Osborne Clarke have been advising venture capitalists Frog Capital and Highland Europe on additional investment in the embedded payments platform for digital business specialists Modulr Finance.

Berkshire-based corporate partner Robert Wood and senior associate Josephine Healy from the Osborne Clarke team were involved in advising both parties.

The corporate team at Osborne Clarke focus on companies in the tech, media/communications and fintech sectors, with their clients ranging from worldwide organisations to promising start-ups. The team advises at all stages of business development, across all different corporate issues, right from equity and debt fundraisings to IPOs, JVs and M&A.

Modulr is a market leader in providing embedded payments across a range of different sectors, with their tech able to help build payments directly into their own platforms without the need to build complex and potentially problematic payment systems.

The finance tech firm also delivers payments infrastructure to its 200+ customers, which include the likes of Sage, BrightPay, Revolut and Wagestream. Currently, Modulr is processing an annualised transaction value of more than £100 billion.

Osbourne Clarke's Robert Wood

Modulr plans to use the investment to expand and accelerate its geographic footprint, extending into new market verticals across the UK and Europe. The funding is expected to help the company maintain their position at the forefront of innovation in the automation of real-time embedded payments, as well as further expanding the use of account-to-account payments and open banking payments.

So far, Modulr has raised a not insignificant £83 million in Series C funding, which was led by General Atlantic, with additional funding coming from Blenheim Chalcot and PayPal Ventures.

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