Mambu, a Berlin-based SaaS banking platform provider, announced on Tuesday it has opened a second North American office to focus on digitalizing U.S. legacy banking technology. According to Mambu, the office will strengthen its service capacity and grow its U.S. commercial teams, by allowing it to offer traditional banks an even smoother transition into the fintech era.
Mambu reported that the new office comes on the heels of a recent $30 million funding round led by U.S.-based Bessemer Venture Partners, with participation from existing investors Acton Capital, CommerzVentures, Point Nine Capital, and Runa Capital. Brian Feinstein, a Partner at Bessemer Venture Partners, stated:
“Mambu is the game changer in a market that desperately needs dynamic solutions to help it evolve. We are impressed by their team, technology, rapid growth and the massive opportunity ahead as financial services becomes fundamentally tech-driven, cloud-first and API-enabled.”
Mambu CEO Eugene Danilkis reported that the Bessemer investment allows the company to continue to grow its U.S. team to help bring its digital engine into institutions of all sizes. Danilkis went on to add:
“The fintech era has changed financial services forcing institutions to digitize, innovate and scale to adapt to customer needs. In a shifting technology landscape, banks have to move at the pace of a technology company rather than continuing its business as usual status. U.S banks are realizing the need to evolve.”