Mambu secures $2.07bn valuation on the back of $134.43m raise

Banking platform Mambu has topped up its coffers with a $134.43m round, firmly placing it in unicorn territory.

On the back of the raise, Mambu now boasts having secured a $2.07bn valuation.

TCV led the round with participation from Tiger Global, Arena Holdings, Bessemer Venture Partners, Runa Capital and Acton Capital Partners.

The FinTech unicorn will use the money to fuel its growth and strengthen its footprint in over 50 countries.

“When Mambu launched in 2011, we knew the future of banking would have to be built on agile and flexible technology,” said Eugene Danilkis, co-founder and CEO of Mambu. “Nearly a decade later, this is more true now than ever, particularly given developments over the past year.

“As an increasing number of challenger and established banks sign on to prepare themselves to thrive in the fintech era, we have, and will continue to provide them with a world-class platform on which to build modern, agile customer-centric businesses.”

TCV general partner John Doran will join the Mambu board of directors as a result of the deal.

“Mambu was one of the first companies to leverage the opportunity to move banking software into the cloud,” he said. “The team has built a highly composable, truly cloud-native product in a multi-billion dollar, rapidly-growing market traditionally dominated by large, slow-moving on-prem vendors. We have been following Mambu’s progress for many years and are truly delighted to be able to partner with Eugene and the entire Mambu team on their journey to expand their offerings to customers worldwide.”

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