Nymbus, the US-based developer of an online financial services platform, closed a $12m funding round yesterday co-led by enterprise startup services provider Vensure Enterprises and venture capital firm Insight Partners.
Founded in 2015, Nymbus provides cloud-based software that enables financial institutions to digitise their back-end operations in order to provide a more streamlined user experience.
The company’s products include the SmartLaunch platform, which allows institutions to set up turnkey digital banks equipped with distinct branding and more effective reporting of customer transactions.
The capital will be used to ramp up the roll-out of Nymbus’s software in order to meet demand from banks seeking enhanced digital functions to cope with coronavirus-related social distancing.
Nymbus secured $5.4m of equity funding in June 2018, according to a regulatory filing. Consumer credit provider Home Credit Group invested $8m to lead a $16m round for the company in 2017, following $12m from unnamed Vensure shareholders the year before.