SaaS start-up Mambu signs € 235 million financing agreement

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Software-as-a-service (SaaS) banking platform Mambu raised € 235 million in a Series E funding round led by EQT Growth, bringing its valuation to € 4.9 billion and making it one of the most valued B2B SaaS companies founded in Europe, according to a Press release Thursday (December 9).

“Our vision in creating Mambu has always been to create a cutting-edge platform that will allow more than a billion people to have brilliant banking experiences. We want to be able to empower our clients to create any financial product anywhere in the world and create amazing customer experiences, ”said Eugene Danilkis, co-founder and CEO of Mambu.

See also: Mambu digital solution targets SME lenders

“EQT is a partner who shares our point of view that we must do this in a sustainable and fair manner to all who contribute to this endless, exciting journey and leave a positive social impact in everything we do,” he said. -he declares.

Danilkis added that the new capital injection will help Mambu accelerate its expansion plans to bring its “critical banking platform to enable more composable business models that are agile and constantly evolving.”

Mambu’s SaaS banking platform strives to simplify the development and deployment of banks’ financial products. Mambu is fueling the formation of new FinTechs and the transfer of existing financial institutions to more modern stacks.

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More than 50 million end users use Mambu’s technology daily, with banks, lenders, FinTechs and other financial institutions among the company’s many customers. The company has posted annual growth exceeding 120% in the third quarter of this year and has signed more than 40 new clients in 2021 to date.

Over 55% of new customers come 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, with a focus on 12 key markets.

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