Modulr

A UK embedded-payments company that lets other firms add accounts, cards and payments to their products. Founded in 2016 with offices in London and Edinburgh.

About Modulr

Modulr is a UK embedded-payments company. "Embedded" means the payment features sit inside another company's product: for example, a payroll app that can pay staff directly, or a travel firm that can pay suppliers. Modulr's platform covers accounts, cards, pay-outs, pay-ins and collections, and it says it supports payroll, accounts payable, travel, lending and investment businesses.

It was founded in December 2016 by "a team of payments experts", and received its UK electronic money licence from the Financial Conduct Authority in September 2016. It has offices in London, Edinburgh, Amsterdam and Mumbai, over 400 staff and more than 6,000 business customers. It describes its vision as "a world where all businesses are powered by embedded payments". Its newsroom also says it became the only non-bank payment service provider with direct access to all three major UK payment schemes.

For young people, Modulr is a good example of the infrastructure companies behind the apps people use every day. We did not find a published graduate or internship scheme, so check its careers page.

What they do

• {'desc': 'Accounts for businesses to hold money.', 'title': 'Accounts'}
• {'desc': 'Physical and virtual cards.', 'title': 'Cards'}
• {'desc': 'Send money out and collect payments in.', 'title': 'Pay-outs and collections'}
• {'desc': 'Connect to payroll, travel and lending products.', 'title': 'Integrations'}

Key facts

• Founded: December 2016 (page says 'a team of payments experts')
• Offices: London, Edinburgh, Amsterdam and Mumbai
• Over 400 employees and 6,000+ business customers (company statement)
• Vision (company wording): a world where all businesses are powered by embedded payments

Website: www.modulrfinance.com