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 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

New loan commitments reached another record high in January, with new owner-occupier loans breaking the $22-billion mark for the first time....

The month of February marked the largest month-on-month increase in home values since August 2003, new data shows. ...

The non-major bank has launched its new tagline in Australia as it moves to reflect its commitment to helping customers do the things that m...


Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.


LATEST PODCAST: Aggregation group changes

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

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