German banking software developer Mambu has announced a EUR30 million investment round led by Bessemer Venture Partners, backed by existing investors Acton Capital, CommerzVentures, Point Nine Capital and Runa Capital.
The newly raised fund will be used for a three-fold growth in headcount and six-fold step up in revenues in the forthcoming years.
Eugene Danilkis, Mambu CEO says: “The fintech era has changed financial services forcing institutions to digitise, innovate and scale to adapt to customer needs. 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.”