Mambu takes 235 million euros from financing round

This increases the company's valuation to 4.9 billion euros. The company intends to use the money to expand its global presence, among other things.

The Berlin-based start-up Mambu has received 235 million euros as part of a Series E financing round. It was led by the investor EQT Growth. This increases the company's valuation to 4.9 billion euros. This makes Mambu one of the most highly valued B2B SaaS companies in Europe. Things are clearly going well for the company: Mambu achieved year-on-year growth of more than 120% in the third quarter of 2021.

The start-up intends to use the capital to drive innovation on its platform and introduce new functions. Mambu also wants to further expand its global presence. This will enable the company to better support its customer base, which spans over 65 countries. The focus is on twelve key markets. In addition, strategic partnerships are to be expanded and customer services extended.

"This latest round of funding will allow us to accelerate our plans to build out our banking platform to enable flexible business models that are agile and constantly evolving," says Eugene Danilkis, co-founder and CEO of Mambu. "We believe that Mambu's technology will make access to the financial system easier and more affordable for millions of people around the world," hopes Carolina Brochado, Partner in EQT Growth's Advisory Team. She will now join Mambu's board of directors.

Mambu is a SaaS cloud banking platform. The company was founded in 2011 and specializes in the design and development of financial services for banks, credit institutions, fintechs, retail banks and telecommunications companies. Mambu employs 800 people. They look after 200 customers in over 65 countries. These include names such as N26, BancoEstado, OakNorth, Raiffeisen Bank, ABN Amro, Bank Islam and Orange Bank.