FinTech: Mambu Scores Largest Private Fundraise For A Banking Platform

https://dailyalts.com/wp-content/uploads/2021/12/121fb3ff7ed96c5f71398e9ae0d336bb01c11658-1795x1053-1.png

Mambu is valued at more than $5.3 billion after $266 million Series E raise.

SaaS banking platform Mambu raised €235 million (about $266 million) in a Series E round led by EQT Growth that valued the company at €4.9 billion post money (~$5.3 billion). The funding marked the largest ever financing round for a banking software platform and catapulted Mambu into the ranks of the highest-valued B2B SaaS companies in Europe. (Yahoo Finance)

Operating in a banking enterprise software market that is growing in double digits and over €100 billion in size, the company has clocked year-on-year growth of more than 120% in Q3 of 2021. It signed up 40 new customers in 2021, many outside Europe, and including N26, Raiffeisen Bank, BancoEstado and ABN Amro. It currently has over 800 employees globally.

Commitment to sustainability, D&I and financial inclusion

Mambu helps in the creation of new fintechs, as well as the migration of existing financial institutions onto more modern technological systems.

“This latest round of funding will allow us to accelerate our plans in expanding our mission-critical banking platform to further enable composable business models which are agile and continuously evolving,” said Eugene Danilkis, co-founder and CEO of Mambu.

“We feel a strong connection to the vision of Mambu as an organization, given the close alignment on values of responsibility and sustainability, and believe that Mambu’s solution is making the financial system more accessible and affordable for millions around the world,” said Carolina Brochado, Partner within EQT Growth’s Advisory Team.

Related Story: Vietnamese Digital Bank Cake Engages Mambu For Cloud Banking Services

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/08/10_sound_box_2.0_payment_terminal_storage_optimization-2-800x500-1.jpg
FinTech: India’s PayTM Gets Heat From Proxy Advisory Firm
August 12, 2022     FinTech, News

Proxy advisory firm Institutional Investor Advisory Services India Ltd. (IiAS) has issued a note ahead of PayTM’s (NSE: PAYTM) annual shareholders’ meeting on August 19 calling for the replacement of…

https://dailyalts.com/wp-content/uploads/2022/08/planet-g69e0d7747_640.jpg
Venture Capital: Lockheed’s Venture Arm To Boost Investment In Space Startups
August 12, 2022     News, Venture Capital

Lockheed Martin (NYSE: LMT) and its venture finance arm Lockheed Martin Ventures plans to boost the latter’s investment outlay from $200 million to $400 million.

https://dailyalts.com/wp-content/uploads/2022/08/picpay-lover.jpg
Digital Assets: Brazilian Fintech PicPay Launches Crypto Exchange With Paxos

PicPay, the well-known Brazilian payment app, has got its shoe in the crypto door in partnership with Paxos, a leading regulated blockchain infrastructure company. Picpay is opening crypto trading services…

https://dailyalts.com/wp-content/uploads/2022/08/one-braham-logo-2.jpg
FinTech: Telecom Behemoth BT Adds Barclaycard Payments To Partnership Network For Micro-Businesses
August 12, 2022     FinTech, News

BT (LON: BT.A), the telecom major, announced that Barclaycard Payments had joined its partnership network seeking to help the growth of UK microbusinesses. BT customers with 0-5 employees would get…