Buy Now, Pay Later for B2B Provider Mondu Appoints Miyu Lee as Chief Legal Officer and General Counsel

Mondu, the Buy Now, Pay Later (BNPL) solution for online B2B checkouts, has announced the appointment of Miyu Lee as Chief Legal Officer and General Counsel. Formerly part of consumer BNPL player Klarna, and Billpay, an extension of the Klarna group, Lee brings many years of international Fintech experience as she steps into the new role at fast-growing Mondu.

Mondu was founded in October 2021 by Philipp Povel, Malte Huffmann and Gil Danziger. Its purpose is to simplify the financial lives of SMBs so that they can focus on what really matters, their business. Using Mondu as their BNPL payment method, SMBs can enjoy the same cash flow management flexibility and freedom to conduct business in the online world, as they do in the offline world.

Last year Mondu raised one of the largest seed rounds in Germany, with $14 million from leading investors FinTech Collective and Cherry Ventures. Now, Mondu is growing rapidly and has already scaled its team to 60. Miyu Lee is the latest senior hire to join the team. The new position will oversee legal and compliance across multiple parts of the business. Lee will also lead and grow the legal and compliance teams at Mondu.

Speaking on Lee joining the team, Philipp Povel, co-founder and co-CEO of Mondu, said, “We are delighted to have Miyu on our management team. I’m positive that her many years of experience in fast-growing, heavily regulated tech industries, and being an international Fintech expert, will immensely contribute to Mondu’s growth.”

Povel, continued, “The role and competence of the CLO are of great importance in our industry. It is essential that we implement the requirements and restrictions set out by regulators in such a way that our platform can play to its strengths. The CLO balances expertise and experience with creativity and a startup mindset, to support Mondu’s goals, whilst keeping an eye on the needs of the businesses we support and their own customers.”

Miyu Lee, newly appointed CLO and General Counsel for Mondu, added, “I am super excited to help the business innovate B2B payments by building one of the most dynamic and modern legal and compliance teams to match Mondu‘s ambitious plans. Mondu has already grown phenomenally over the past six months, and we’ll be scaling our legal and compliance teams as we continue to grow across 2022. We have already hired exceptional lawyers and compliance specialists to join our teams and we are always on the lookout for additional tech-savvy talent to work with us and grow their skillset in the Fintech ecosystem.”

Lee holds a PhD in Economics from Humboldt University and a law degree from Harvard Law School and is a triple-qualified lawyer, with qualifications in Germany, Austria and the US. At Billpay she was Head of Legal and Compliance and played an integral role in the company’s integration into Klarna. She then joined the Klarna team where she held many positions.

Amongst her accomplishments at Klarna, she oversaw an international Product Legal Team and, as Head of Legal & Regulatory Operations, played a key role in Klarna’s international market expansion both in and outside of the EU. Additional responsibilities have included managing the Klarna Media Legal Team responsible for Klarna‘s media solutions and partnerships, the management of PSD2 and other regulatory advice, integration of acquired companies and platforms, setting up the Klarna German branch, assisting in key business strategic partnerships, and the involvement in the historic Sofort vs. German Banking Association litigation.

Lee’s work has been recognised twice by The Legal 500 GC Powerlist in Germany. Once in 2019 for Top In-House Counsel in Financials, and in 2018 for Top In-House Teams in Financials