Mambu, a German SaaS startup that fast-tracks the designs and builds any type of financial product for banks, lenders, fintech, and others, has secured €235M funding in Series E round led by EQT Growth.
The latest funding round brings Mambu’s valuation to €4.9B, making it one of the highest-valued B2B SaaS companies founded in Europe. To date, the company has raised €387M.
The new fund will enable Mambu to accelerate innovation in its banking platform, build on its strategic commercial partnerships and deepen its already-global footprint and customer success services. The company is also planning to use the funding towards international expansion.
Eugene Danilkis, co-founder and CEO of Mambu said: “This latest round of funding will allow us to accelerate our plans in expanding our mission-critical banking platform to further enable composable business models which are agile and continuously evolving. EQT is a partner who shares our views that we need to do this sustainably and fairly to all who contribute to this exciting never-ending journey and to leave a positive social impact in everything we do.”
Builds financial products
Founded in 2011 by Eugene Danilkis, Frederik Pfisterer, and Sofia Nunes, Mambu’s platform accelerates and simplifies the way financial products are built and deployed by financial institutions.
The German company counts banks, lenders, fintechs, and financial institutions as its customers, with over 50M end-users leveraging the platform on a daily basis.
The SaaS company has witnessed a rock-solid growth of more than 120% in Q3, 2021.
Further, the company has signed over 40 customers in 2021. As per the company’s claims, over 55% of new customers are coming from outside of Europe, with commercial deployments that include N26, Raiffeisen Bank, BancoEstado, and ABN Amro.
Mambu employs 800 people worldwide and is currently active in 65 countries today, with a focus on 12 key markets.
Mambu competes against the likes of Temenos Transact, FLEXCUBE, FIS Profile, SAP Transactional Banking, and others.
Carolina Brochado, Partner within EQT Growth’s Advisory Team, who will be joining Mambu’s Board of Directors, said: “We have been following Mambu’s journey and stellar execution for several years now. We feel a strong connection to the vision of Mambu as an organization, given the close alignment on values of responsibility and sustainability, and believe that Mambu’s solution is making the financial system more accessible and affordable for millions around the world. We are excited to partner with one of the leading fintech companies and management teams in Europe, which offers an industry-unique and leading modern cloud platform to address the massive €100B market serviced by traditional banking software vendors and in-house solutions.”