Mambu, the SaaS banking platform provider, has raised EUR8 million in the company’s latest funding round led by Acton Capital Partners and CommerzVentures with participation also coming from existing investors.
Mambu says it will use the funding to accelerate its expansion following three times year-on-year growth over the last 12 months.
“This latest funding round is a testament to our growing client base and increasing market needs for a cloud banking platform,” says Eugene Danilkis, CEO of Mambu. “We are building out the product and onboarding customers in multiple geographies and are excited that this new capital will allow us to deploy faster and better support our global client base as we continue to enable the next generation of banking service providers.”
As part of its global growth, Mambu plans to substantially expand its commercial team, increase investment into the platform and open further offices to support its growth in Asia and the Americas.
“The FinTech landscape is rapidly evolving and with investment in this space at a high the industry is seeing an increase in opportunities across all geographies and banking verticals,” says Fritz Oidtmann, Managing Partner at Acton Capital Partners. “We were impressed with Mambu’s position as a global FinTech platform player with great potential as the platform-of-choice for emerging FinTech companies and as an engine for innovation for the established organizations. We look forward to helping the company build on the momentum it has already achieved and continue to establish themselves as the cloud engine of the FinTech revolution.”
“We see Mambu as the next generation of banking platforms and cloud technology with huge potential to fill a significant need in the market,” says Stefan Tirtey, Managing Director at CommerzVentures. “Mambu has rapidly evolved to be an industry-leading modern, cloud based banking system that is opening up new opportunities for digital-first banking and is well positioned as a disruptive challenger to traditional and legacy banking systems.”
