Mambu has raised €235 million, a Series E that values the company at €4.9 billion.
The funding is being led by EQT Growth, the European private equity firm, and Amsterdam/London-based Mambu is not disclosing other investors.
The company works with clients as N26, Raiffeisen Bank, BancoEstado and ABN Amro. Eugene Danilkis, Mambu’s co-founder and CEO said:
“Our vision is to create in financial services and banking what Salesforce did in CRM.”
Mambu is also working with newer entrants to financial services like telcos and e-commerce companies that might not be equipped or interested in building financial services from scratch but can see an business or operational opportunity to provide their customers with some of these tools more directly, and to invest in building more tailored financial services tapping into building blocks provided by another company. That is a model that opens the door to a much wider set of customers for Mambu down the line.