Banking technology vendor Nymbus has closed a $70 million Series D funding round led by Insight Partners and joined by clients ConnectOne Bank and PeoplesBank.
Nymbus has partnered with regional banks and credit unions to migrate their legacy stack and launch niche banks to attract new customers and compete against larger institutions. The funding will be used to expedite growth and expand product offerings.
Jeffery Kendall, CEO, Nymbus, says: "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."
Peter Sobiloff, MD, Insight Partners, adds: "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."