Nymbus takes $16m for core banking tech

Financial core technology provider Nymbus has raised $16m in a new round led by Home Credit Group.

The Miami-based company aims to serve banks and financial institutions with its full-stack SaaS core technology.

It aims to provide infrastructure that can make it easier for financial institutions and credit unions to develop new products and modernise as technology changes.

Nymbus’ executive chairman Scott Killoh said: “Tens of thousands of banks and credit unions are not capitalizing on strategic growth opportunities due to outdated legacy core technology.

“This round of funding will allow us to strengthen our focused efforts around helping customers implement more efficient operations, more modern digital experiences and, ultimately, achieve greater growth.”

Home Credit Group is a Netherlands-based consumer finance provider that counts more than 17 million active customers.

The firm’s head of special projects Miroslav Boublik said: “The traditional banking model is being massively disrupted and NYMBUS is best positioned to stand at the core of this transformation.

“The company is led by a talented, experienced executive team and, in our assessment, NYMBUS’ technology is both many years ahead of traditional banking system vendors and most viable among emerging FinTech providers.”

The round follows the $12m Nymbus raised in August last year.

Company president David Mitchell said: “We’re helping financial institutions implement digital-first strategies in order to drive customer growth and competitive differentiation, with the speed, agility and urgency required by today’s businesses.

“Our partnership with Home Credit Group better positions us to accelerate our growth plans and continue our technology innovation and leadership.”

Copyright © 2017 FINTECH GLOBAL

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