• Mambu, a digital banking infrastructure provider, has raised EUR 235 million (USD 266 million) in Series E funding led by EQT Growth, with participation from unnamed investors. The round comes less than a year since Mambu raised EUR 110 million in funding in January, and brings its total funding to EUR 387 million (USD 437 million).

• The round values the company at EUR 4.9 billion (USD 5.5 billion), more than double its valuation in January (EUR 1.7 billion).

• The funds will be used to accelerate innovating Mambu’s platform, building on strategic partnerships, as well as expanding its global footprint and customer success.

• The company has reportedly grown more than 120% YoY in Q3 2021 and has signed over 40 customers this year, bringing its total customer base to over 200. 

<ul><li> Analyst QuickTake: Last week, another European banking infrastructure provider Thought Machine , raised similarly large funding of USD 200 million (and reached unicorn status) and much like Mambu, intends to invest it in product development and international expansion. Moreover, Mambu’s plans to expand its global footprint shows its continued efforts taken during the year (including an expansion to Vietnam in September), as its presence has now reached more than 65 countries, from around 50 in January.</ul>