NYMBUS scores $12m in new funding round as it looks to boost market presence

Financial software developer NYMBUS has closed its latest funding round on $12m, with the aim of increasing its market penetration.

Insight Partners and Vensure Enterprises led the investment round.

With the fresh capital, the FinTech is looking to boost the adoption of its NYMBUS SmartEcosystem, which the company claims is having overwhelming demand from financial institutions trying to digitise their banking operations and customer-facing channels.

The cloud-based solution enables financial institutions of all sizes to unify their banking functions and operational services.

NYMBUS CEO and founder Scott Killoh said, “Time is of essence as COVID-19 has amplified this urgency for seamless digital banking experiences.

“NYMBUS is fortunate to have the proven products and tools in place to make digital transformation immediately available for more banks and credit unions, and with this funding, the financial backing to drive our growth at scale.”

The Miami-based FinTech platform previously raised $16m in its funding round back in 2017 from Home Credit Group.

Insight Partners manager director Peter Sobiloff said, “The company’s robust pipeline has further been bolstered by COVID-19 due to demand for advanced digital lending and banking services under the CARES Act and its turnkey SmartLenders solution. We are confident in our investment to support an accelerated scale-up and delivery of their solutions for penetrating the market with immediate and future banking success.”

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