Nymbus secures $16 Million in a Funding Round to lead digital transformation

Nymbus secures $16 Million in a Funding Round to lead digital transformation
24.02.2017 06:30 am

Nymbus secures $16 Million in a Funding Round to lead digital transformation


NYMBUS Inc., provider of the world’s most current mission-critical core technology available to financial institutions, closed additional $16 million funding round led by Home Credit Group. Following a $12 million funding round just six months ago, NYMBUS is well-positioned to continue its accelerated expansion plans.Home Credit Group is an international consumer finance provider with operations in 11 countries and headquartered in the Netherlands. Founded in 1997, Home Credit Group currently has over 17 million active customers[1], 241,000 distribution points and has originated more than 111 million loans worth in excess of $45 billion.

“Tens of thousands of banks and credit unions are not capitalizing on strategic growth opportunities due to outdated legacy core technology,” said Scott Killoh, executive chairman at NYMBUS. “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.”

The core banking platform is the most important technology of any financial institution. It not only drives day-to-day operations, but also serves as the institution’s backbone for new capabilities and growth. Traditional legacy core systems are not able to support the various needs of today’s businesses, from modularity and third-party integration, to scalability. NYMBUS SmartCore is a holistic core banking platform that unifies all the required mission-critical banking functions in one system with one single sign-on and data set.

“The traditional banking model is being massively disrupted and NYMBUS is best positioned to stand at the core of this transformation,” said Miroslav Boublik, Group Head of Special Projects, Home Credit International. “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.”

David Mitchell, president at NYMBUS, 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.”

Related News

ESG Investment North America Virtual Summit – by Reuters Events Markets

Reuters Events hosts the leading, North American institutional investor forum bringing financially critical ESG insights to mainstream investors. Join a two-day agenda that... Read more »

ESG Investment Europe Virtual Summit – by Reuters Events Markets

Reuters Events hosts the leading institutional investor forum for delivering strategic ESG insights to drive forward-thinking investment policy. Join a two-day agenda that... Read more »

Remitly Announces $85 Million Round as Digital Remittances Surge Globally

Remitly, the mission-driven provider of remittances and financial services for immigrants, announced an additional $85... Read more »

London Derivatives Exchange selects Exberry to deliver matching engine technology

Exberry, the exchange technology pioneer, has been appointed by London Derivatives Exchange (LDX) to provide matching engine technology. The... Read more »

FinecoBank expands UK offering with access to Algebris Funds

FinecoBank today announces the expansion of its investment products with a suite of funds from Algebris.

With the new funds from London... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel