Modulr, a PayPal-backed fintech offering white-label payment infrastructure, has made its first acquisition, purchasing UK-based accounts payable fintech Nook. The acquisition will enhance Modulr’s capabilities by integrating Nook’s accounts payable automation platform with its embedded payments technology, providing more efficient solutions for business owners and accounting professionals. CEO Myles Stephenson indicated that further acquisitions are possible as Modulr continues to expand its offerings, backed by sufficient funding to reach profitability.

PayPal-Backed Modulr Snaps Up First Acquisition