Mambu

The German financial technical-company Mambu founded in 2019 by Hussein Ahmed develops a cloud platform for the banking sector. The startup offers different banking services through the mobile application: for example, opening personal or business accounts, virtual credit and debit cards, money transfers, payments. The platform allows to create, start and service credit and deposit products quickly. Primary clients - microfinance institutions (IFIs).

History

2021: Attraction of €110 million investments, including from Runa Capital

At the beginning of January, 2021 Mambu announced closing of a round of financing according to the results of which it could attract 110 million euros, and the estimated value of a startup was 1.7 billion euros. Among investors — Runa Capital fund which invested in the German company earlier.

More than all money the TCV fund invested. Also Tiger Global, Arena Holdings, Bessemer Venture Partners and Acton Capital Partners took part in the transaction.

Runa Capital invested in the developer of a cloud for IFI of Mambu

The CEO and cofounder Eugene Danilkis says that the company will use the received means for further expansion of business in 50 markets where it is already present. It is going to place emphasis on South America and Asia.

According to Eugene Danilkis, to the success the company is obliged to demand of its IT solutions against the background of the general digitalization of the banking sector. He said that project developments allow business to save flexibility and to react quickly to market changes.

Mambu says that during a pandemic the company recorded serious growth: more than 125 thousand accounts were opened, and revenue increased by 969 times.

2013-2016

In 2013 the Runa Capital fund took part in a round of financing of Mambu for €2 million. The second time - in 2014 and also in January, 2016 in B round for 8 million euros.^[1]

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