Interesting journey from micro credits to new bank models platforms
Mambu, the SaaS banking platform, has raised a further €8 million in funding. The round was led by Acton Capital Partners and CommerzVentures, with participation from existing investors. The additional capital will be used to expand its commercial team, invest in the platform and to open new offices in Asia and the Americas. Founded in 2011, Mambu started out servicing micro-lenders, primarily in emerging markets but has since expanded with most of its growth coming from Europe and Asia Pacific with companies that provide anything from consumer lending and SME lending to the backbone of P2P organizations and new consumer banking offerings.