Nymbus raises USD 70 million in Series D funding round

Monday 29 May 2023 11:00 CET | News

Banking technology solutions provider Nymbus has raised USD 70 million in Series D funding round for developing new offerings and expanding its services.

Following this announcement, Nymbus will leverage the funds in order to accelerate the process of expanding its services and products in multiple regions around the world. Furthermore, the company aims to improve its modern core system, as well as to develop new capabilities and offerings for diversifying the overall product portfolio. 

The round was led by Insight Partners, alongside fintech company investors, such as the Mendon Venture Partners and The Banc Funds Company. 

Banking technology solutions provider Nymbus has raised USD 70 million in Series D funding round for developing new offerings and expanding its services.

Nymbus’ products and services

Nymbus offers its customers and users multiple services and tools, designed to offer clients the capability to build, launch, and monitor a digital bank. Businesses and companies can benefit from its online banking offerings, as well as its product launch and core capabilities, labs, BaaS, onboarding services, and OLB tools.  

Nymbus’ Modern Core Banking was developed to offer clients and customers the possibility to leverage a cloud-native platform with an efficient and secure interface, to deliver embedded banking products and services, to leverage traditional and digital-only retail and business banking, and to use multiple account structures for a single individual. Moreover, by using the service, users will be fully compliant with the requirements of BSA, AML, and KYC.

In April 2022, the banking technology tools provider introduced three new affinity-based fintech concepts, all made available through the Nymbus Labs. 

Each of the concepts was designed to be customised and personalised by companies, as well as to be launched and developed by any size bank, financial institution, or credit union seeking to open their addressable market and serve a new niche community of clients and users. Furthermore, each of the nice fintech concepts from Labs came with a targeted customer affinity. Included in the list were a customisable brand, a data-driven business case, full operational support, a playbook for continued development of growth, as well as a marketing strategy. 

One of the three concepts was Activate, a product that was designed to make the process of getting solar loans easier and faster through its community, with indirect loans accounting for 34,4% of the credit union industry’s loan portfolio. Métier was an online creative business community that required personalised financial flexibility and support while offering customers the possibility to develop their companies and meet their personal focuses and financial goals. Prospr represented a niche that provided farms and customers with the needed tools for managing cash flow, which offered access to capital, as well as gave profitable, safe, and sustainable agriculture businesses. 

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Keywords: funding, investment, mobile banking, online banking, banking, digital banking
Categories: Banking & Fintech
Companies: Nymbus
Countries: World
This article is part of category

Banking & Fintech


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