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SaaS Platform Mambu Closes Series E Funding, Accelerating ANZ Growth Plans – Wealth Tech Digest #87

Key takeaways

SaaS banking platform Mambu closes Series E funding round accelerates ANZ growth plans.

For today’s digest, Mambu, a market-leading, modern SaaS banking platform, has announced raising €235 million. This comes from an EQT Growth-led Series E funding round, the largest financing round to date for a banking software platform. The funding brings the company’s valuation to €4.9 billion post-money, making it one of the highest-valued B2B SaaS companies founded in Europe. Mambu’s SaaS banking platform accelerates and simplifies the way financial products are built and deployed by financial institutions. Mambu will use its fresh funding to further accelerate innovation in its next-generation platform. They are doing this with the ambition of rolling out both new functionality as well as technical capabilities. The company will also continue to expand its already-global footprint and customer success model to further support its international customer base. Myles Bertrand, Managing Director APAC, at Mambu, said, “This funding news is tremendously exciting for our APAC operations.” He continued, “Mambu APAC is tracking to reach 200% year-on-year growth for 2021, and we’re looking to repeat that in 2022.” Whether or not Mambu will be able to achieve these high-minded ambitions remains to be seen, but it seems that they are certainly on the right track.

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