Mambu takes 235 million euros from financing round

The company's valuation thus rises to EUR 4.9 billion. Among other things, the company wants to use the money to expand its global presence.

The Berlin-based start-up Mambu has received 235 million euros in a Series E financing round. It was led by investor EQT Growth. This brings the company's valuation to 4.9 billion euros. This makes Mambu one of the most highly valued B2B SaaS companies from Europe. Things are apparently going well for the company, with Mambu posting more than 120 percent year-over-year growth in Q3 2021.

The startup plans to use the capital to drive innovation in its platform and introduce new features. Mambu is also looking to further expand its global footprint. This will help the company better support its customer base, which spans over 65 countries. The focus is on twelve key markets. It also aims to expand strategic partnerships and enhance customer services.

"This latest round of funding will allow us to accelerate our plans to build out our banking platform to enable flexible composable 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. Founded in 2011, the company specializes in the design and development of financial services for banks, credit institutions, fintechs, retail banks and telecom companies. Mambu employs 800 people. They look after 200 clients in over 65 countries. Among them are names like N26, BancoEstado, OakNorth, Raiffeisen Bank, ABN Amro, Bank Islam and Orange Bank.