Modulr provides an API based payments infrastructure that enables its clients to efficiently automate and embed payments. With its base in Amsterdam, Modulr will provide e-money and payment services on a cross-border basis throughout the EU.
We assisted Modulr with preparing and submitting the licence application, including the set-up and corporate governance of the Dutch entity, reviewing policy documents and contractual documentation and liaising with the Dutch Central Bank.
Our team was led by Jasha Sprecher and consisted of (among others), Rob Heslenfeld, Marrit van Eijck van Heslinga, Gaibar Hasami, (Financial Law), Marleen Velthuis, Casper van der Meulen (AML/Compliance), Peter Vogels (Employment), Wijnand Bossenbroek and Florine Kuipéri (Corporate M&A / Notarial).
"It's great that we were able to assist Modulr in obtaining their EMI licence, which now allows them expand their services across Europe. For FinTech companies, the Netherlands remain a good location because of its vibrant FinTech scene, established professional services and international talent pool. With this licence application, our team accounts for 50% of the currently licenced EMI's in the Netherlands", says Jasha Sprecher, Financial Law partner and head of our team in this matter.