Funding Round Led by Acton Capital Partners and CommerzVentures
BERLIN, GERMANY – January 11, 2016: Mambu, the SaaS banking platform provider, today announced it has raised €8 Million in their latest funding round led by Acton Capital Partners and CommerzVentures with participation also coming from existing investors. This latest funding will be used to continue building on Mambu’s global momentum and successes, with the company achieving over three times year-over-year growth and recording several significant milestones over the last 12 months. This includes over 30 new customers, a quadrupling of portfolio under management and an array of new functionality including support for various SME and P2P lending methodologies.
“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 geographies and are excited that this new capital will allow us to deploy faster and better support our global client base as we continue to enable the next generation of banking service providers.”
As part of its global growth, 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 company is at the forefront of digital banking with an innovative offering that provides the complete core banking software and infrastructure needed to bring its digital-first banking business model to market.
“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,” said 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 organizations. 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.”
“We see Mambu as the next generation of banking platforms and cloud technology with huge potential to fill a significant need in the market,” said Stefan Tirtey, Managing Director at CommerzVentures. “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.”
About Acton Capital Partners
Acton Capital Partners is a Munich-based growth-equity fund in the internet sector. Acton focuses on business models in the fields of marketplaces, e-commerce, e-services, digital media and software as a service and addresses consumers and small to medium enterprises. Acton invests globally with a strong emphasis on Europe. The team has been working together successfully for many years and has invested in more than 60 companies since 1999. The most renowned investments include AbeBooks, Alando, AlphaSights, Ciao, Cyberport, Elitepartner, Etsy, HolidayCheck, Lumas, Linas Matkasse, mytheresa.com, OnVista, windeln.de and zooplus.
For more information, please visit www.actoncapital.com
CommerzVentures GmbH was established in October 2014 by Commerzbank AG as its corporate venture capital fund with a focus on investments in the financial services technology & services industry (“FinTech”). CommerzVentures’ portfolio companies have scalable and attractive business models. CommerzVentures invests globally with a focus on Europe. During 2015 CommerzVentures also invested into eToro, iwoca, MARQETA, and GetSafe.