NYMBUS Raises $70 Million in Series D Funding, Bolstered by New and Returning Investors

  • Fundraising News
  • 25.05.2023 04:00 pm

NYMBUS®, a premier provider of cutting-edge financial technology solutions, is proud to announce the completion of its Series D funding round of $70 million, made up of new and repeat investors. This round was led by global software investor Insight Partners and bolstered by additional investments from Nymbus clients ConnectOne Bank and PeoplesBank, alongside financial technology investors, The Banc Funds Company and Mendon Venture Partners. The announcement comes on the heels of a previous announcement of strategic investments from Curql Collective, a Credit Union Service Organization (CUSO) driving financial technology innovation for credit unions, via its flagship Curql Fund and Reseda Group, a wholly owned CUSO of MSU Federal Credit Union (MSUFCU), a Nymbus client.

In conjunction with FT Partners’ advisory role in the funding round, the capital infusion will empower Nymbus to expedite the expansion and advancement of its modern core system and diverse product portfolio.

“Financial institutions must pivot from traditional revenue models and seize novel opportunities to drive growth in the swiftly shifting financial landscape. Nymbus offers the necessary products and services for these organizations to secure a competitive edge,” stated Peter Sobiloff, Managing Director, Insight Partners. “By shattering the norm, Nymbus’ pioneering approach to niche banking establishes the industry benchmark, concurrently innovating with flexible solutions to deliver enduring value for banks and credit unions. We look forward to endorsing their future ventures in these fields.”

As a reliable ally for banks and credit unions, Nymbus is dedicated to breaking down barriers to growth and providing leading-edge solutions and support. “This latest round of financing positions the company to double down on our mission of bringing new thinking to financial institutions to help them thrive in an ever-evolving market,” said Jeffery Kendall, Chairman and CEO of Nymbus. “These strategic investments are a testament to the confidence in Nymbus’ ability to transform the financial services industry by modernizing outdated legacy systems with proven technology and business models that result in growth for our current and future clients.”

“We believe in the power of modernization and see our investment in Nymbus as a step towards shaping the future of banking. Nymbus’ cutting-edge solutions and strategic approach align with our mission to provide superior financial services while adapting to the evolving needs of our customers,” said Brian Canina, Chief Operating Officer and Chief Financial Officer of PeoplesBank.

This funding milestone underscores NYMBUS’ role as a frontrunner in the fintech arena. “Forward-thinking innovation and partnership are integral to our philosophy, and Nymbus embodies these values. By investing in Nymbus, we endorse a company that resonates with our ethos, and supports our mission of delivering modern financial services,” declared Siya Vansia, ConnectOne Bank’s Chief Brand & Innovation Officer.

“Nymbus is uniquely positioned to further modernize the banking and financial services landscape given its cloud-based solutions, innovative technology and in-depth knowledge of products and services. We’re thrilled to invest in this company, its leadership, and team,” stated Anton Schutz, Founder and Managing Partner of Mendon Venture Partners. Charles J. Moore, President of The Banc Funds Company, added, “Through our investment in Nymbus, we are helping to shape the future of the industry and driving meaningful impact.”

With steadfast support from partners and clients, Nymbus is poised to redefine the future of financial services, fostering growth and creating unparalleled value for all stakeholders.

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