20 October 2017

Nymbus closes $16 million funding round

23 February 2017  |  2121 views  |  0 Source: Nymbus

NYMBUS Inc., provider of the world’s most current mission-critical core technology available to financial institutions, today announced it secured $16 million in a 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“Tens of thousands of banks and credit unions are not capitalizing on strategic growth opportunities due to outdated legacy core technology,” said Scott Killoh, executive chairman at NYMBUS.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.”

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