The SaaS banking platform Mambu picks up €8 million in funding

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Mambu, the Berlin-based SaaS banking platform provider, has just announced their latest funding round (€ 8 million) led by Acton Capital Partners and CommerzVentures. This latest funding will be used to continue building on Mambu’s global successes. Mambu is an all-in-one SaaS banking platform for managing credit and deposit products quickly, simply and affordably.

Mambu plans to substantially expand its commercial team, increase investment into the platform and open further offices to support its growth in Asia and the Americas. The startup, which was founded in 2011, is at the forefront of digital banking with an offering that provides the complete core banking software and infrastructure needed to bring its digital-first banking business model to market.

“This latest funding round is a testament to our growing client base and increasing market needs for a cloud banking platform,” said Eugene Danilkis, CEO of Mambu. “We are building out the product and onboarding customers in multiple geographical regions. We are excited that this new capital will allow us to deploy faster and better support to our global client base.”

The young company is achieving growth year-over-year and won 30 new customers in the last 12 months, and new functionality including support for various SME and P2P lending methodologies.

Stefan Tirtey, Managing Director at CommerzVentures, stated: “Mambu has rapidly evolved to be an industry-leading modern, cloud based banking system that is opening up new opportunities for digital-first banking and is well positioned as a disruptive challenger to traditional and legacy banking systems.”