New unicorn from Germany: Mambu closes $135m SeriesD

by | January 7, 2021

BERLIN, GERMANY (Miami/Singapore) Mambu has announced its latest funding round of €110 million ($135 million) in new capital to accelerate its growth in new markets. The round was led by TCV, whose investments include Revolut, Klarna, and Netflix. Additional investment was received by Tiger Global and Arena Holdings, as well as existing investors Bessemer Venture Partners, Runa Capital and Acton Capital. The new round brings the company’s valuation to over €1.7 billion ($+2bn).

With this new round of financing, the market leading SaaS banking platform will continue to accelerate its rapid growth and deepen its footprint in the more than 50 countries in which it already operates and focus on markets like Brazil, Japan and the United States. This announcement follows another year of approximately 100% YoY growth for Mambu in a banking software market which Gartner currently values at over $100 billion and is forecasting to grow at double-digits. FT Partners was the exclusive financial advisor on this transaction.

Mambu’s SaaS banking platform sets it apart from traditional core banking players as it drastically accelerates and simplifies the way financial products are built and serviced by any financial institution. Mambu’s platform is used by traditional banks, fintech startups, financial institutions, nonprofits and other businesses to power their financial products and services. Counting the likes of ABN AMRO, N26, OakNorth, Orange and Santander among its customer base, Mambu is powering both the building of new fintechs as well as the migration of existing financial institutions onto a tech stack fit for the fintech era. Mambu is continuing to expand both the breadth and depth of its platform and is planning to double the team to over 1000 Mambuvians by 2022.

“When Mambu launched in 2011, we knew the future of banking would have to be built on agile and flexible technology.”

Eugene Danilkis, CEO

 

“Nearly a decade later, this is more true now than ever, particularly given developments over the past year. As an increasing number of challenger and established banks sign on to prepare themselves to thrive in the finech era, we have, and will continue to provide them with a world-class platform on which to build modern, agile customer-centric businesses,” says Eugene Danilkis, Mambu’s co-founder and CEO

“This latest funding round allows us to accelerate our mission to make banking better for a billion people around the world and address one of the largest, most complex global market opportunities that’s still in the infancy of cloud,” he said.

TCV General Partner, John Doran who joins the Mambu board, said: “Mambu was one of the first companies to leverage the opportunity to move banking software into the cloud. The team has built a highly composable, truly cloud-native product in a multi-billion dollar, rapidly-growing market traditionally dominated by large, slow-moving on-prem vendors. We have been following Mambu’s progress for many years and are truly delighted to be able to partner with Eugene and the entire Mambu team on their journey to expand their offerings to customers worldwide.

​Mambu is the SaaS banking platform that is changing financial services​. This rapidly growing company​ ​was launched in 2011​ and is enabling customers to build modern banking ​and lending​ offerings​ fast, securly and simply​. Through its composable banking approach, the platform gives customers the ability to design and service nearly any financial product while rapidly integrating to the best-of-service ecosystem of complementary solutions around the world. Mambu has a global network​ of nearly 500 employees​ supports ​160 customers in over 50 countries. ​It counts N26, OakNorth, ABN AMRO and Santander amongst its extensive list of customers.​

Über Acton Capital Partners

Acton Capital Partners ist ein internationaler Wachstumsinvestor mit Sitz in München. Seit 1999 investiert das Acton-Team erfolgreich in digitale Pioniere in Europa und Nordamerika.

Investmentfokus liegt dabei auf skalierbaren Geschäftsmodellen aus den Bereichen Future of Work, Digitale Marktplätze und Plattformen, Ecommerce, FinTech sowie Software-as-a-Service.

Bettina Engert Administrator
Director Communications , Acton Capital

 

About Acton Capital
Acton Capital is a leading growth venture capital investor in Europe. Since 1999, the Acton team supports digital startups in the fields of marketplaces, e-commerce, SaaS, FinTech or Future of Work on their way to market leadership. Acton Capital invests worldwide with strong focus on Europe and North America. With two decades of investment experience and a deep understanding of tech-enabled business models, the team has invested over EUR 500+ million across five fund generations.

 

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