Over the last four years, Berlin-based Mambu experienced triple-digit growth by helping to replace legacy banking technology. And recently Mambu announced it secured €30 million in funding to accelerate growth. The funding round was led by Bessemer Venture Partners. Existing investors Acton Capital, CommerzVentures, Point Nine Capital, and Runa Capital also participated in the funding round.
With the funding, Mambu is going to step up its investment in commercial teams and the product, platform, and services. As a result, the company is planning three-fold growth in headcount and six-fold growth in revenues across all regions within a few years.
“The fintech era has changed financial services forcing institutions to digitize, innovate and scale to adapt to customer needs,” said Mambu CEO Eugene Danilkis in a statement. “In a shifting technology landscape they have to move at the pace of a technology company rather than a traditional bank. As a direct result, we have experienced significant growth as these institutions change strategic direction and face new tech-enabled players entering the financial services market. We provide the engine which allows them to be agile to respond to market changes and realize business value quickly.”
Bessemer Venture Partners Brian Feinstein pointed out that Mambu is a “game changer” in a market that needs dynamic solutions in order to evolve. GP Bullhound served as the exclusive financial advisor to Mambu for the transaction.
In terms of metrics, Mambu has over 6,000 active products and served 11 million customers. The company also has 5.2 million active accounts and an active portfolio of $7 billion.
