TCV Leads €110M Funding For Cloud Banking Biz Mambu

Law360 (January 7, 2021, 6:34 PM EST) -- A group of investors led by Weil-advised TCV has agreed to inject €110 million (about $134 million) into Germany-based Mambu, which provides a cloud-based banking platform used by lenders and other businesses globally, the companies said Thursday.

The cash infusion increases Mambu's market valuation to more than €1.7 billion, according to the announcement. In addition to growth equity firm TCV, the investment round featured participation from the likes of Tiger Global, Arena Holdings, Bessemer Venture Partners, Runa Capital and Acton Capital Partners.

The money will be used to fuel growth and expansion. Mambu currently operates in more than 50 countries, including...

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