This move makes Nebeus one of the first European companies to leverage Modulr’s one-stop card issuing solution across the UK and Europe. Based in Barcelona, Nebeus is an European cryptocurrency app and desktop platform which specialises in providing a full crypto ecosystem which allows users to earn rewards on crypto by staking and renting; access an exchange and personal wallet; borrow crypto; and embed crypto for B2B clients. Nebeus, connected to Modulr accounts and embedded payment features like Direct Debit, Faster Payments, and SEPA Instant, can now scale operations across Europe and the UK.
The partnership with Modulr will enable Nebeus to issue branded virtual and physical cards – with ‘out of the box’ modern issuing features like card-freezing, real-time spend notifications, and spend controls – to their customers across the UK and Europe. This will provide Nebeus’ customers with a payment experience equivalent to that provided by a traditional bank account but reportedly improved, crypto-enabled, and instant. Modulr is one of few non-banks to hold and settle GBP funds at the Bank of England, according to the company.
Combined, these payment methods mean Nebeus can offer each customer a dedicated digital account with unique IBANs (EUR) or Sort Codes and Account Numbers (GBP), together with a whole ecosystem of crypto services, and give customers a virtual and physical Visa card to spend fiat. In this way, Nebeus can offer consumers a bridge between crypto and traditional financial services.
Marca Wosoba, Managing Director of Europe at Modulr stated that ‘establishing and running a card programme across Europe requires multiple partnerships; and the handling of such a complicated partner network requires extensive time and money. This pulls businesses away from their focus: customer experience and revenue growth. The European launch of our card issuing solution replaces these legacy inefficiencies with a proven, full-stack solution’.
Launched in 2016, Modulr is a provider of embedded payments to digital businesses across the UK and Europe. Delivered using Modulr’s modern FinOps hub, Modulr enables 200+ clients to automate, control, and embed payments and is now processing an annualised transaction value of more than GBP 100 billion, according to the company.
Backed by the likes of PayPal Ventures and FIS Ventures, as well as venture and growth equity investors General Atlantic, Blenheim Chalcot, Frog Capital, and Highland Europe, Modulr has now raised GBP 150 million to support its vision to enable any software platform to embed payment capability using its modern FinOps Hub.
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