Mmob, a UK-based embedded finance network, has secured £5m from a seed funding round.
The financing for the seed funding round came from a group of angel investors which have not been disclosed as of current.
Launched in 2020, mmob has developed a partnerships infrastructure that allows the seamless integration of third-party brands to help boost retention, add new revenue streams and drive customer-facing innovation.
Partners of the company include iwoca, Cuckoo, Uinsure, Anorak and PensionBee.
Mmob will use the new funding to finance a move into new markets with an initial focus on launching in Malaysia. The company will also look to develop its technology platform with the new capital.
mmob CEO Irfan Khan said, “This funding will enable us to further expand our operations in the UK and Malaysia, and establish ourselves as the de facto leader and number one choice for embedded financial services moving forward.”
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