Modulr

What Modulr does

Modulr is a regulated Electronic Money Institution operating an API-first embedded payments platform that automates how businesses move money — covering accounts payable, payroll, supplier payments, card issuance, and collections. The cloud-native microservices platform spans multi-currency accounts in GBP, EUR, and nine other currencies with local IBANs across GB, NL, ES, FR, and IE, supports 30+ payment rails (Faster Payments, Bacs, SEPA, SWIFT, CHAPS), and issues virtual and physical cards on the Visa and Mastercard networks. Dual regulatory authorization from the FCA (UK) and De Nederlandsche Bank (Netherlands) allows direct scheme participation and Bank of England settlement access. The platform claims 99.99% availability, sub-25ms API response times, and processes over £180 billion in annualized payment value across more than 200 million transactions for 6,000+ businesses.

The company distributes through a hybrid go-to-market combining direct enterprise sales, self-service SME onboarding with tiered subscriptions (£16.25 to £500 per month), and an embedded partner ecosystem spanning accounting (Xero, QuickBooks, Sage), payroll/HR (HiBob, BrightPay, Iris), and travel technology platforms (Conferma, Juniper). Revenue is generated via recurring subscription fees (Bronze/Silver/Platinum tiers plus standalone Payroll and AP products), per-transaction fees (£0.32–£0.80 per payment beyond included allocations), and FX margins (0.5–1.2%) on cross-border transactions routed through the Currencycloud partnership. Modulr achieved its first full-year net profit in 2025 after nearly a decade of operations, and has expanded into the US through a strategic partnership with FIS while maintaining India operations for technology development.

The product portfolio is organized as a platform-plus-modules architecture: core platform capabilities (Accounts, Pay-ins/Collections, Pay-outs, Cards, Fraud & Risk, Integrations) sit beneath vertical solutions (Payroll Payments, Accounts Payable, Travel Payments, Lending & Wage Advance, Merchant Payments, Investment & Wealth) with Spend Management as an add-on. AI capabilities include a Sardine-powered fraud detection layer and AI-driven invoice extraction for accounts payable automation. Strategic priorities evidenced in 2024–2026 activity center on US market entry via FIS, deepening vertical SaaS integrations (HiBob, Conferma), and upgrading risk infrastructure for instant payment rails.

Name

Modulr

Legal name

Modulr Finance Limited

Website

https://modulrfinance.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Modulr is an FCA and DNB-regulated Electronic Money Institution operating an API-first embedded payments automation platform serving 6,000+ businesses with accounts, pay-ins, pay-outs, card issuance, and AI-powered fraud detection across UK, European, and US markets.

Ownership category

akta.pro rank

Product category

Embedded Payments Infrastructure

NAICS

Sales Financing (52222)

SIC

Finance Services (6199)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

akta.pro secondary industries

Developer Tooling & SDKs for Payments (Gateway Tooling) (FSAMACAL), Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB), Alternative Payments & Digital Wallet Acceptance (A2A, RTP, wallets) (THALAHAH)

Keywords

• Embedded payments platform
• Payment processing API
• Digital banking infrastructure
• B2B payment rails
• Accounts and pay-outs

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Subscription and Transaction Fees: Subscription-based pricing tiers with bundled payments included, plus per-transaction fees for usage beyond included allocation. Products include Accounts Payable, Payroll Payments, and Spend Management with tiered pricing from £16.25 to £500 per month.
2. Payment Processing Fees: Fees charged per payment transaction beyond included allocation (ranging from £0.32 to £0.80 per extra payment depending on tier)
3. FX and International Payments: Foreign exchange services and international payments in currencies beyond GBP and EUR, provided through Currencycloud partnership with FX rates of 0.5-1.2%

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Modulr is an API-first embedded payments platform that supplies digital banking infrastructure to businesses, enabling them to embed payment services directly into their own products. Its offering spans digital accounts, pay-ins, pay-outs, card issuing, fraud and risk management, and integrations, all delivered through APIs under FCA (UK) and DNB (Netherlands) regulatory permissions as an Electronic Money Institution.

Product overview

Modulr is a payments automation platform providing a unified platform-plus-modules architecture. The core platform offers Accounts (multi-currency), Pay-ins & Collections, Pay-outs (domestic and international), Cards (virtual and physical), Fraud & Risk (AI-powered), and Integrations. Built on this core, the platform offers vertical solutions including Payroll Payments, Accounts Payable, Travel Payments, Lending & Wage Advance, Merchant Payments, and Investment & Wealth. Spend Management is available as an add-on module. Products are available through tiered pricing (Bronze, Silver, Platinum at £30-500/month) or custom enterprise packages, with API-first delivery enabling embedded integration into partner platforms. The platform processes over 200 million transactions annually with £180 billion in payment value across 6,000+ businesses.

Differentiator

Problem solved

Functional benefit

Brands

• Nook: FX and international payments service operated by Payaable Limited, an EMD Agent of The Currency Cloud Limited
• ModulEdge

Products and services

• Modulr Accounts

Quantifiable outcome

• Eliminates 4-5 days of monthly admin work for payroll processing
• +3 more outcomes

Named customers11 records

Segments7 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability5 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• SardinecoreTechnology or Integration · 30 April 2026Partnership to integrate AI-enabled fraud detection and anti-money laundering capabilities into Modulr's Risk & Compliance Hub. Sardine's technology analyzes over 12,000 real-time signals across a network covering 5.5 billion devices, 670 million consumers, and 2.8 million businesses. The integration addresses gaps in existing systems designed for slower settlement cycles, enabling real-time fraud detection across card and instant payment rails.
• HiBobcoreTechnology or Integration · 8 March 2026Integration of Modulr's payments automation into HiBob's HR, finance, and payroll platform workflow. Enables automatic salary and HMRC tax payments directly through Modulr once payroll is approved, removing manual file exports and cross-system reconciliation. Addresses payroll errors affecting up to 25% of UK employees.
• FIScoreStrategic or Co-development Partner · 7 January 2026Strategic partnership enabling Modulr's entry into the US market through FIS's Money Movement Hub. Modulr provides API-first payment technology for FIS's cloud-native payment orchestration platform, offering US financial institutions access to real-time payment rails and global payment network integration. Partnership signed around September 2024.
• ConfermacoreTechnology or Integration · 12 December 2025Partnership making Modulr a fully connected issuer within the Conferma platform for travel businesses. Enables travel management companies, online travel agencies, and corporate travel programs to issue and manage virtual cards in seconds without pre-funding or holding excess weekend balances.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Stripe: Stripe is a global API-first payments platform serving businesses with payment processing, issuing, and embedded finance capabilities. It is the most direct competitor to Modulr's core payments automation and orchestration proposition.
• Adyen: Adyen is a global payments platform providing unified payment processing, acquiring, and issuing infrastructure for enterprises. It competes with Modulr in the API-first, multi-rail payments automation and card-issuing space.
• Checkout.com: Checkout.com is a global payments platform providing payment processing, orchestration, and acquiring services. It is a direct competitor in the embedded and API-led payments infrastructure market.
• Marqeta: Marqeta provides API-based card issuing and payment infrastructure on Visa and Mastercard networks. It directly overlaps with Modulr's card issuance and embedded payments capabilities.
• Wise: Wise offers multi-currency accounts and cross-border payments to businesses and consumers. It overlaps with Modulr's multi-currency account and international pay-out services.
• TrueLayer: TrueLayer provides open banking APIs for account-to-account payments and financial data. It competes in the UK and Europe on instant payment rails, a core part of Modulr's offering.
• Currencycloud: Currencycloud, a Visa-owned fintech, provides FX and cross-border payment infrastructure. It is both a Modulr partner (via Nook) and a comparable infrastructure provider in international payments.

Emerging players

• Plaid: Plaid provides account connectivity and payment initiation APIs. While focused on data and A2A payments rather than full payment orchestration, it overlaps with Modulr's open banking and embedded finance positioning.
• Token.io: Token.io is an open banking payment specialist operating in the UK and Europe. It overlaps with Modulr's pay-in, pay-out, and account-to-account payment capabilities as a niche competitor.

Broad incumbents

• PayPal: PayPal, an investor in Modulr, is a global incumbent in digital payments with a broad product portfolio including Braintree, Hyperwallet, and Honey. It overlaps with Modulr in payment processing, cards, and developer-first payments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/ModulrFinance
• YouTubeyoutube.com/@modulr-video/videos
• LinkedInlinkedin.com/company/modulr-finance

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries5 records

Funding overview

Funding rounds7 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Modulr