Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Berlin-based startup Mambu raises €30 million from Skype-backer Bessemer

Berlin-based banking start-up Mambu raised €30 million in its latest funding round backed by US-based Bessemer Venture Partners and others, the company revealed on Monday.

The funding will allow Mambu to accelerate its growth and further investments in marketing, products, platform and services. The company also plans on expand its fifty-country presence on all continents, and to grow its team by 300%, and its revenues by 600% in coming years.

Created in 2011 by CEO Eugene Danilkis and Frederik Pfisterer, Mambu is a leading software as a service (SaaS) banking engine powering innovative lending and deposits. The company has already experienced triple-digit growth for four consecutive years now, attracting a growing number of established banks  to implement the platform.

“The fintech era has changed financial services forcing institutions to digitise, innovate and scale to adapt to customer needs,” said Danilkis. “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. We provide the engine which allows them to be agile to respond to market changes and realise business value quickly.”

Bessemer Venture Partners, which has backed the likes of Skype, Linkedin and Pinterest, led the round with participation also coming from Acton Capital, the venture arm of Commerzbank, Point Nine Capital and Runa Capital.

“Bessemer has significant experience working with rapidly growing SaaS technology companies and saw the potential in our technology and operating model”, Danilkis said. “Mambu is joining an elite group of companies, in which they have invested, which gives us access to a vast knowledge base of successful global SaaS businesses. 

“We are delighted not only by the investment, but the network that we will be tapping into as we accelerate this exciting growth journey,” added Danilkis.

Image via publicdomainpictures.

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