Financial Services Capital, a private equity investor dedicated to the European financial services sector, has completed USD15 million in new financing for NYMBUS, a provider of banking technology solutions, doubling its total investment in the company to more than USD31 million.
As part of the investment, Matt Wallach, Co-Founder of Veeva Systems, will join as a Strategic Advisor and Matthew Hansen, Managing Partner at Financial Services Capital, will join Managing Partner Miroslav Boublik on the Nymbus Board of Directors.
Financial Services Capital launched in 2020 to capitalise on a once-in-a-generation investment opportunity, transforming businesses through a hands-on, operationally focused and technology-enabled value creation strategy.
The firm’s investment demonstrates continued confidence in Nymbus’ potential to transform the financial services industry’s outdated legacy systems with proven technology solutions, and follows a year marked by overwhelming demand for the company’s alternative to the traditional banking model. With its complete suite of banking technology, tools and on-demand services, Nymbus makes digital transformation quickly available to move any size financial institution forward.
In addition to supporting a surge of clients and rapid company expansion, the investment will allow Nymbus to continue broadening its offerings. This includes the recently unveiled Nymbus Labs, built and operated to systematically remove barriers for institutions to leverage niche digital banks that connect to the communities they serve, create new revenue streams, and innovate.
Matt Wallach co-founded Veeva Systems, one of the world’s leading cloud software companies. He served as president through the company’s IPO and growth past USD1 billion in revenues and currently serves on the board of directors. Today, Veeva boasts a market capitalisation of over USD40 billion.
“We are thrilled to welcome a cloud pioneer like Matt as an Advisor at this critical time when financial institutions are seeking proven and risk-free strategies to rapidly transform their banking operations and customer-facing channels. We look forward to continue working with Nymbus as they build out a best-in-class, cloud-native offering that is well positioned to be a leader in the industry and will transform our portfolio companies,” says Miroslav Boublik, Managing Partner at Financial Services Capital.