Mambu valued at €4.9bn after bumper €235m Series E round
Software-as-a-Service (SaaS) banking platform Mambu has raised €235 million in a Series E funding round, valuing the firm at €4.9 billion.
Mambu is now worth almost €5bn
The round, led by EQT Growth, is the largest private fundraise for a banking software platform to date and makes Mambu one of the highest-valued B2B SaaS companies founded in Europe.
Mambu will use the new cash to accelerate further development of its platform and implement new functional and technical capabilities.
The company will also look to continue its global expansion efforts, focusing on 12 key markets and building on strategic partnerships.
Mambu co-founder and CEO Eugene Danilkis says: “This latest round of funding will allow us to accelerate our plans in expanding our banking platform to further enable composable business models which are agile and continuously evolving.”
EQT Growth advisory team partner Carolina Brochado, who will join Mambu’s board of directors as part of the fundraise, says Mambu’s solution is “making the financial system more accessible and affordable for millions around the world”.
Mambu claims over 200 customers – including banks, lenders, fintechs and financial institutions – and over 50 million end users across Europe, North America, Asia Pacific, the Middle East and Latin America.
