The Commerzbank-backed financial services software provider's valuation now tops $2bn, TCV having led its latest round.

Mambu, the Germany-based banking software provider backed by financial services firm Commerzbank, has received €110m ($135m) in a funding round led by growth equity firm TCV.

Hedge fund manager Tiger Global Management, investment firm Arena Holdings and venture capital firms Bessemer Venture Partners, Runa Capital and Acton Capital Partners also participated in the round, which valued the company at $2.08bn.

Founded in 2011, Mambu provides software that powers financial products for banks and other financial services providers, non-profit organisations and…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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