NYMBUS bags $70m in Series D for product expansion

By Delisha Fernandes

NYMBUS, a provider of  FinTech solutions, has announced the completion of its Series D funding round of $70 million.

This round was led by global software investor Insight Partners and bolstered by additional investments from Nymbus clients ConnectOne Bank and PeoplesBank, alongside financial technology investors, The Banc Funds Company and Mendon Venture Partners.

The announcement comes on the heels of a previous statement of strategic investments from Curql Collective, a Credit Union Service Organisation (CUSO) driving financial technology innovation for credit unions, via its flagship Curql Fund and Reseda Group, a wholly owned CUSO of MSU Federal Credit Union (MSUFCU).

“Financial institutions must pivot from traditional revenue models and seize novel opportunities to drive growth in the swiftly shifting financial landscape. Nymbus offers the necessary products and services for these organisations to secure a competitive edge,” said Peter Sobiloff, Managing Director, Insight Partners. “By shattering the norm, Nymbus’ pioneering approach to niche banking establishes the industry benchmark, concurrently innovating with flexible solutions to deliver enduring value for banks and credit unions.

As a reliable ally for banks and credit unions, The FinTech company is dedicated to breaking down barriers to growth and providing leading-edge solutions and support. “This latest round of financing positions the company to double down on our mission of bringing new thinking to financial institutions to help them thrive in an ever-evolving market,” said Jeffery Kendall, Chairman and CEO of Nymbus.

“These strategic investments are a testament to the confidence in Nymbus’ ability to transform the financial services industry by modernising outdated legacy systems with proven technology and business models that result in growth for our current and future clients.”

“We believe in the power of modernisation and see our investment in Nymbus as a step towards shaping the future of banking. Nymbus’ cutting-edge solutions and strategic approach align with our mission to provide superior financial services while adapting to the evolving needs of our customers,” said Brian Canina, Chief Operating Officer and Chief Financial Officer of PeoplesBank.