SaaS banking platform provider Mambu announced today it is on target to realize strong growth in 2016. Month-on-month growth is at 10 percent and the Mambu platform is now used for managing close to $600 million in portfolios.
Five years after its launch Mambu’s strongest growth is in SMB financial products including term loans, revolving credit, working capital, asset financing, invoice financing and direct or P2P models. They are also partnering with more transactional banking clients and the platform is active in 40 countries.
“2016 kicked off with a great start for us after receiving €8 million in funding to accelerate the commercialization of our platform,” said Eugene Danilkis, CEO of Mambu. “Interest in a platform like ours has never been so popular with organizations realizing that the SaaS model brings tremendous benefits in cost and time-to-market advantages to digital-first financial institutions. Mambu is growing at a significant speed and to meet this demand we will more than double the size of the team by the end of the year.”
Mambu also recently unveiled its Fintech Startup program which helps new companies get to market faster via the Mambu platform.