subscribe to our newsletter

German banking software firm launches in Sydney

A German banking software provider has launched in Sydney after closing a $47 million funding round.

Mambu has opened its first office in Australia in Sydney CBD with Myles Bertrand, managing director for the Asia-Pacific region, at the helm.

The opening follows the closure of a €30 million (A$47 million) funding round led by San Francisco-based venture capital firm, Bessemer Venture Partners. Action Capital, CommerzVentures, Point Nine Capital and Runa Capital also contributed to the funding round.

The Berlin-headquartered fintech, which launched in May 2011, said the new capital would help “accelerate [its] momentum” after experiencing “triple-digit growth for four consecutive years”.

Mambu plans to use funds to expand its commercial teams and invest more in its products and services, with a goal of tripling its headcount and increasing its revenue six-fold in the coming years.


The fintech – which provides a cloud-native, ‘software as a service’-based, and API-driven banking platform – has more than 200 clients in 55 countries, including challengers such as OakNorth Bank in the UK, New10 in the Netherlands, N26 in Germany, Ferratum in Finland, Space Bank in Georgia, and Wenance in Argentina, among others.

It also claims to have a $7 billion portfolio under management.

Mambu is optimistic about hitting its growth goals, with chief executive Eugene Danilkis saying that “the fintech era has changed financial services, forcing institutions to digitise, innovate and scale to adapt to customer needs.”

“As a direct result, we have experienced significant growth as these institutions change strategic direction and face new tech-enabled players entering the financial services market,” he said.

“We provide the engine which allows them to be agile to respond to market changes and realise business value quickly.”  


[Related: Neobank raises $2.6m in crowdfunding campaign]


German banking software firm launches in Sydney
Mambu CEO Eugene Danilkis

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.


If you have any news, ideas or enquiries for Mortgage Business - please contact This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The major bank has confirmed that it will not proceed with the demerger of its New Zealand business. ...

The Senate has passed a bill that will establish an authority that ASIC and APRA are accountable to, two years after it was recommended by t...

The big four bank has said that it has increased its serviceability floor rate to ensure it continues to lend responsibly, and has predicted...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.