Mambu Raises US$266 Million in Series E at a US$ 5.5 Billion Valuationby Fintech News Singapore December 9, 2021
Software as a service (SaaS) banking platform Mambu announced that it has raised US$266 million (€235 million) in an EQT Growth-led Series E funding round.
The funding brings the company’s valuation to US$ 5.5 billion (€4.9 billion) post money.
Carolina Brochado, Partner within EQT Growth’s Advisory Team, will be joining Mambu’s board of directors.
Mambu said that it will use its fresh funding to further accelerate innovation in its next-generation platform, with the ambition of rolling out both new functional as well as technical capabilities.
The company will also continue to expand its global footprint and customer success model to further support its international customer base which is active across 65 countries today, with specific focus on twelve key markets.
According to a statement by Mambu, the company has delivered year-on-year growth of more than 120% in Q3 of 2021.
Mambu has signed over 40 customers in 2021 to date, with more than 55% of new customers now being outside of Europe, and significant commercial deployments across the globe including N26, Raiffeisen Bank, BancoEstado and ABN Amro.
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.”