Economy & Politics

FintechWhat makes the new fintech unicorn Mambu so valuable

Revolut, Nubank and Klar each have an office in Berlin. Mambu is also based in Berlin.Jamie Hunt / unsplash

Only ten minutes’ walk from each other they worked on their joint breakthrough, near Berlin’s Alexanderplatz. And yet the companies could hardly be more different: N26 is the well-known smartphone bank with more than five million customers, many conference appearances by the founders, newspaper articles and a large poster on the house wall. At the same time, the software provider Mambu has been working on its own success story behind the bank.

Ever since Mambu provided the banking technology for N26 and other up-and-coming fintechs, the company has been an insider tip among start-up investors. Years ago, Bessemer Ventures, one of the most traditional donors from Silicon Valley, took part. Since Thursday, Mambu has been attracting the full attention of the international tech scene: In a financing round, the company raised 110 million euros, the prominent venture capitalist TCV has stepped in and values ​​the company at 1.7 billion euros. As Finanz-Szene calculated, the goodwill at the last funding in early 2019 should have been around 150 million. That would be a huge leap in rating.

What makes Mambu’s business model so attractive? You can read that today on Finance Forward, the finance portal of Personal-Financial.com and OMR. You can register for the daily newsletter here.

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