PayPal-backed Modulr banks first full-year profit
PayPal-backed UK fintech Modulr has announced it has achieved its first full-year net profit, a significant milestone that the company states grants it greater autonomy and the ability to accelerate strategic investments. This profitability is seen as crucial for demonstrating financial robustness to investors in the competitive fintech landscape. The embedded payments platform, which offers white-label payment infrastructure and holds an Electronic Money Institution (EMI) license, processes over 200 million transactions annually, amounting to more than £180 billion in payment value. This sustained commercial growth across its key markets has driven its upturn from previous pre-tax losses of £11 million in the year ending 2024. Modulr has also continued to expand its team across the UK, Europe, the US, and India, indicating a growth-oriented strategy rather than cost-cutting measures. This achievement is particularly relevant as Modulr prepares for its US expansion, having recently announced a strategic partnership with financial technology firm FIS. The company intends to leverage its profitability to deepen capabilities in AI-powered automation, aiming to build reliable products for businesses scaling globally, especially in complex business payment environments. Modulr currently has no plans for external fundraising, having last secured around £83 million in 2022.
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