New unicorn for Germany: Mambu is valued at 1.7 billion euros

Lisa Marie Münster Lisa Marie Münster | 08.01.2021

With the current financing round of €110 million, Mambu is becoming a German unicorn: the FinTech's valuation now stands at €1.7 billion. The round was led by tech investor TCV from Silicon Valley.

The beginning of the start-up Mambu starts with a term paper and the realization by three students that the operating systems of financial institutions were outdated. Ten years later, the observation has turned into a start-up valued at 1.7 billion euros. It thus joins the elite club of unicorns, alongside startups like N26 and Deposit Solutions.

In a new round of funding, the Berlin-based company was able to raise 110 million euros. The second-highest round in the last twelve months, estimates Peter Barkow, head of analytics firm Barkow Consulting.

The main investor in the round is TCV, whose portfolio also includes companies such as Netflix, Klarna and Airbnb. Also participating are Tiger Global, Arena Holding, FT Partners and existing investors like Bessemer Venture Partners, Acton Capital and Runa Capital. Mambu co-founder Eugene Danilkis comments, "This latest round of funding enables us to advance our mission to improve banking for a billion people around the world and capitalize on one of the largest and most complex global market opportunities still in its infancy in the cloud."

The money will be used to fund acquisitions, among other things. It also aims to double its headcount to over 1,000 by 2022. The FinTech has 160 customers in over 50 countries, which include companies such as N26, Santander and OakNorth. Mambu sells banking software designed to help companies simplify their financial product offerings and get them to customers quickly and securely.


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