Mambu gets funding boost, eyes expansion
Written by Scott Thompson
Cloud banking startup Mambu has raised €8 million in a funding round led by Acton Capital Partners and CommerzVentures. The company, which has now pulled in €12 million worth of funding, says that it will use the cash to continue building upon its global momentum, having achieved over three times year-over-year growth and, during the last 12 months, adding 30-plus new customers, alongside a quadrupling of portfolio under management.
Mambu plans to 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 organisations. 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.”