Feb. 18, 2019
Mambu, a Berlin-based fintech, raised $34 million (30 million euros) in a funding round led by U.S. investment firm Bessemer Venture Partners, according to a company release.
Action Capital, CommerzVentures, Point Nine Capital and Runa Capital participated in the round.
Mambu provides cloud-based software to legacy banks, startup fintechs and others to help them expand lending and full-service banking to 
mobile customers.
"The fintech era has changed financial services, forcing institutions to digitalize, innovate and scale to adapt to customer needs," Eugene Danilkis, chief executive of Manbu, said in the announcement. "In a shifting technology landscape, they have to move at the pace of a technology company rather than a traditional bank."
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.
Mambu will use the funding to invest in its technology platform and will also grow its sales and support staff, a spokesperson told Mobile Payments Today by email. The company has offices in Miami that serve the U.S. and Latin America as well as Sydney, Australia and Singapore, to handle its Asia-Pacific business.
Topics: Financial News, Mobile Apps, Mobile Banking, Region: EMEA
Companies: Mambu GmbH.
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