Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Mambu raises €30 million to fund platform expansion

Eugene Danilkis, Mambu CEO

Germany-based SaaS banking software provider, Mambu, has secured  €30 million to accelerate growth in a funding round led by Silicon Valley investors- Bessemer Venture Partners. The round witnessed participation of other significant investors such as Acton Capital, CommerzVentures, Point Nine Capital and Runa Capital.

“The fintech era has changed financial services forcing institutions to digitize, innovate and scale to adapt to customer needs,” said Eugene Danilkis, Mambu CEO. “In a shifting technology landscape, they have to move at the pace of a technology company rather than a traditional bank. As a direct result, we have experienced significant growth as these institutions change strategic direction and face new tech-enabled players entering the financial services market. We provide the engine which allows them to be agile to respond to market changes and realize business value quickly,” said Danilkis.

The funding, according to Mambu, will assist the company to step up its investment in its commercial as well as products, platform and services team which would result in a planned three-fold growth in headcount and six-fold in revenues in the forthcoming years across all regions.

“Mambu is a game changer in a market that desperately needs dynamic solutions to help them evolve,” said Brian Feinstein, Partner at Bessemer Venture Partners. “We are impressed by their team, technology, rapid growth and the massive opportunity ahead as financial services becomes fundamentally tech-driven, cloud-first and API-enabled.”

Mambu in November announced an agreement with Lendico Switzerland AG, which operates a digital lending platform for small business. Mambu is also working with mobile bank N26, Helsinki-based mobile lender Ferratum and ABM Amro’s new10 small business platform.

Launched in 2011, Mambu is the leading SaaS banking engine powering modern digital financial services providing an alternative to core banking systems, a cloud-native solution driving open API-enabled architectures. Mambu helps clients to start up new business ventures, transform existing operations, launch new products and expand into new markets. The company provides financial institutions of all sizes with the agility to design, launch, service and scale their banking and lending portfolio It has more than five million active accounts in over 50 countries ranging from fintechs to traditional banks.

Related IBS Intelligence Research

Related Posts


NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »