May 16, 2020

Mambu - The SaaS FinTech Banking Platform

FinTech Platform
Banking Platform
SaaS Banking Platform
Glen White
2 min
Mambu - Fintech Magazine
Mambu is a global Software as a Service (Saas) Banking Platform for both FinTech's and traditional finance companies.

Mambu has grown fast and now defi...

<p><strong>Mambu is a global Software as a Service (Saas) Banking Platform for both FinTech's and traditional finance companies.</strong></p>

<p>Mambu has grown fast and now defines itself as a leader in the white label core banking space.</p>

<p>Launched in 2011, Mambu is now seen as a FinTech Challenger, one of the fast-rising superstars that started small but is now on a rapid growth curve.</p>

<p><a href="">HQ: Berlin, Germany</a></p>

<p>CEO:&nbsp;Eugene Danilkis</p>

<p>Eugene Danilkis is co-founder and CEO at Mambu. With a passion for technology and design and degrees in Human-Computer Interaction and Computer Science, Eugene is said to be the driving force behind the Mambu vision.</p>

<p>Eugene combines his background in technology and design with an entrepreneurial approach, using technology to find simple solutions to some of the banking sector’s complex challenges.</p>

<p>Eugene Danilkis -&nbsp;<a href="">LinkedIn Profile</a></p>

<p>Other Founders of Mambu:&nbsp;<a href="">Frederik Pfisterer</a> &amp;&nbsp;<a href="">Sofia Nunes</a></p>

<p>Mambu gives financial institutions a powerful competitive edge by allowing them rapidly create, launch and service any lending or deposit portfolio through a modern SaaS banking platform.</p>

<p>Built from the cloud up, Mambu is a powerful alternative to the costs and complexity of traditional core banking systems or custom in-house solutions.</p>

<p><strong>Global Growth of Mambu's Banking Platform</strong></p>

<p>Mambu is live in 45 different countries which shows its ability to quickly adapt to diverse regulatory regimes, countries of operation include the UK, Netherlands, Germany, Sweden, the US, Kenya, Australia, Philippines, China and Argentina, and many more. Their&nbsp;clients range from FinTech Challenger Banks&nbsp;to traditional finance lenders.&nbsp;</p>

<p>Notable Clients include:</p>

<p><a href=""><strong>OakNorth</strong></a></p&gt;

<p>UK-based OakNorth Bank is the first fully regulated European cloud-based bank serving SMEs and has a loan book of over £3 billion.</p>

<p><a href=""><strong>N26</strong></a></p&gt;

<p>The first pan-European mobile-only bank uses Mambu’s solution to reduce costs and for growth.</p>

<p><strong><a href="">New10 from ABN AMRO</a></strong></p>

<p>SMEs looking for a loan online can go to&nbsp;<em>New10</em>, an initiative of ABN AMRO, powered by Mambu.</p>

<p>So check out Mambu's FinTech Platform for yourself, they are a rising star in FinTech for sure -</p>

<p><a href="//"></a></p&gt;

<p><a href="">Mambu - LinkedIn Profile</a></p>

<p><strong>SEE MORE:</strong></p>

<ul dir="ltr">
<li><a href="… joins N26, Revolut and Monzo in the State-side rush</a></li>
<li><a href="… Profile: What makes Challenger Bank N26 tick?</a></li>
<li><a href="… spotlight: Dacxi, the crowd finance pioneer</a></li>
<li><a href=""… the latest edition of FinTech Magazine, here!</a></li>

<p dir="ltr"><em>For more information on all topics for FinTech, please take a look at the latest edition of&nbsp;<a href="">… magazine</a>.</em></p>

<p dir="ltr"><em>Follow us on&nbsp;<a href="">LinkedIn</a>&nbsp;and… href="">Twitter</a>.</em></p&gt;

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Jul 23, 2021

Robinhood faces $35mn fine from New York DFS

2 min
Robinhood faces $35mn fine from New York DFS
Robinhood announced it had reached a ‘settlement’ with regulators and is on target for a $35bn valuation for its initial public offering

The renegade trading platform, Robinhood, which was central to the GameStop shares frenzy earlier this year, faces a US$35mn fine from New York financial regulators.

The company’s crypto division was issued with a wrist slap in 2020, following the red flagging of several “matters requiring attention”. Robinhood revealed it had reached a settlement with the New York State Department of Financial Services regarding the issues, which related to “alleged violations” of cybersecurity and anti-money laundering rules.

Robinhood valuation

The news follows on from the announcement earlier this week that the trading platform favoured by armchair investors, which almost broke Wall Street earlier this year, has an expected valuation of $35bn following its IPO.

Critics of the platform say Robinhood encourages “risky behaviour” among inexperienced (armchair) investors. The app has also been criticised for not informing customers that much of its profits are generated by routing their trades to Wall Street firms taking the other side, or so-called "payment for order flow."

Robinhood said last month they expected the DFS fine to be at the $15mn mark, adding it would be “the bottom of the range for our probable loss in this matter”. The $35mn penalty is on top of the record $70mn Robinhood incurred from US financial regulator FINRA in June, for “lax vetting and outages.”

However, the settlement indicates the company’s IPO will go ahead as planned, despite initial concerns the investigation could see the float delayed until later this year.

Robinhood floats imminent

Despite the regulatory hiccups, Robinhood priced its IPO between US$38-US$42 per share, giving the platform the US$35bn valuation and analysts predict the firm’s debut on the Nasdaq could occur as early as next week.

Reports suggest that 55 million shares will be offered. Robinhood founders, Baiju Bhatt and Vlad Tenev are also set to sell 2.63 million shares.

Robinhood democratising investment

Launched in 2013 by Tenev and Bhatt, who were Stanford University roommates, Robinhood’s founders will retain most of the voting rights after the IPO. Bhatt reportedly holds 39% of the voting power of outstanding stock, while Tenev holds 26.2%.

The online brokerage, which came under fire for its handling of the GameStop trading debacle, which saw the platform limit stocks to investors, states its mission is to “democratise” investing and is one of the most highly anticipated IPOs of the year.

Robinhood was valued at $11.7bn in autumn 2020 following a private equity funding drive. The new valuation will mean represent a three-fold increase in the company’s market value in less than 12 months.

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