Mambu, a Berlin, Germany-based SaaS banking platform provider, raised €8M in funding.
The round was led by Acton Capital Partners and CommerzVentures with participation from existing investors.
The company intends to use the funds to expand its commercial team, increase investment into the platform and open further offices to support its growth in Asia and the Americas.
Led by Eugene Danilkis, CEO, Mambu provides a SaaS-based platform that enables banking providers to create, launch and service loan and deposit products, this representing an alternative to the costs and complexity of traditional core banking systems or custom in-house solutions.
Established in 2011, the company works with more than 100 institutions (credit cooperatives, retail banks, microfinance organizations and financial innovators) in 30 countries worldwide, servicing a portfolio of more than a million accounts.