Mambu helps microfinance institutions, banks and financial innovators deliver essential banking services to individuals and emerging enterprises around the world, by making modern banking technology accessible and affordable via its cloud-based SaaS delivery model.

"In the past, the microfinance industry has struggled with lack of access to modern banking technology, which creates real business challenges in terms of managing growth, measuring impact and innovating service delivery," said Eugene Danilkis, founder and CEO at Mambu GmbH.

"Inadequate levels of technology support have also constrained the microfinance industry's ability to scale to meet the demands of the market. As a result of these challenges, we are seeing increasing numbers of microfinance organisations turn to Mambu's easy to use and rapid to deploy technology platform."

Mambu's 100-strong customer base includes a range of microfinance institutions, from some of the larger microfinance networks to some of the smallest. These include SEAP Microfinance, the third largest microfinance institution in Nigeria; FINCA Costa Rica, a microfinance network providing financial services to low-income entrepreneurs; and Lenddo in the Philippines, Colombia and Mexico, the world's first online platform that helps the emerging middle class use their social connections to build their creditworthiness and access local financial services.

In the last 12 months alone, the total portfolio being processed on Mambu's platform has increased by 131%. The value of loan facilities being processed by Mambu has also increased 104% while the total value of savings accounts has increased by 196%. In addition, nearly half of Mambu's customers have extended their services and are now offering deposit and savings products, increasing the availability of these vital services for individuals and emerging enterprises.