Cloud banking platform Mambu secures investment from 4G Capital

AFRICAMambu, a leading cloud banking platform, has secured an investment from 4G Capital, a neobank powering micro and small business growth in Africa.

4G Capital provides unsecured business loans along with enterprise training and access to digital solutions. Mambu’s platform will enable the neobank to scale and expedite its digital journey to meet customer business needs.

“Our investment in Mambu enables us to accelerate our mission of growing businesses with capital and knowledge. Mambu provides a best-in-class platform that fits into our existing digital architecture and business processes,” Wayne Hennessy-Barrett, Founder and Chief Executive Officer at 4G Capital.

“We were impressed with their team and working culture, which aligned with our own focus on pioneering innovation and customer success. We share the belief that customers must be at the heart of all that we do.

“Bridging the finance gap for micro and small businesses is not only about ‘access’; it is a covenant for success. We look forward to maximising the capabilities of Mambu as our systems and operations evolve and grow.”

4G Capital said they prioritised brand compatibility in their search, including shared values and socially conscious goals. Both Mambu and 4G Capital share the same mission of bridging the finance gap.

Since 2013, 4G Capital has been on a mission to unlock human potential for good, enabling traditionally excluded micro and small enterprises to access funding with products designed to increase clients’ take-home earnings, grow their businesses and improve access to vital services.

Mambu aims to enable billions of people to have access to modern banking experiences and started in 2011 servicing micro-lenders, primarily in emerging markets in Africa. Today, Mambu has 77 million daily users and over 230 banks and financial institutions as customers.

4G Capital and Mambu are aligned both culturally and historically. Our partnership means we can close the finance gap to create better banking experiences for groups that have been historically underserved,” Peter Richmond, VP of Customer Success at Mambu said.

“The micro and small enterprise finance gap across the world is enormous, despite this sector being a key economic driver globally. We are committed to helping 4G Capital support entrepreneurs everywhere in achieving their potential.”

The roadmap for 4G Capital, supported by Mambu, sees a range of new products and services to serve micro and small enterprises, scaling across existing markets of Kenya and Uganda, then into new emerging markets both organically and with channel partners.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s businesseconomy, and more. SUBSCRIBE HERE

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.