NYMBUS raises $12 million in growth funding
NYMBUS, a Miami-based financial technology company, announced on Tuesday it has raised $12 million in an investment round led by Insight Partners and Vensure Enterprises.
NYMBUS provides an advanced financial services platform for U.S. financial institutions. Its cloud-based products include digital technology platforms (SmartCore, SmartDigital, and SmartPayments), and SmartLaunch, its full-service, and standalone digital brand alternative.
The company said it plans to use the funding to grow its its NYMBUS SmartEcosystem, which allows every size of financial institution to get to market instantly with digital-first solutions. Nymbus’ SmartLaunch model provides technology, complete operational support, and full-service digital marketing and integrated CRM solutions to stand up a fully-outsourced digital bank.
The funding comes on the heels of the introduction of a product aimed at helping financial institutions during the COVID-19 crisis. NYMBUS introduced SmartLenders as soon as Congress passed the CARES Act on March 27 to help make the Paycheck Protection Program loan process simple and fast for participating banks and credit unions.
“This latest funding points to confidence and demand in the marketplace for innovative solutions that financial institutions can rapidly deploy in order to thrive in a digital-dependent world,” said Scott Killoh, CEO and founder of NYMBUS, in a statement. “Time is of essence as COVID-19 has amplified this urgency for seamless digital banking experiences.”
Nymbus, founded in 2015, is one of South Florida’s most successful companies young companies in financial technology, a fast-growing growing sector in the region. It has made at least three acquisitions over the years and raised and together with today’s funding news has raised $45.4 million in venture financing.
“We’ve increased our commitment to NYMBUS as they continue to build out a full ecosystem of products and services that is being overwhelmingly received within the market as a proven alternative to the traditional banking model,” said Peter Sobiloff of Insight Partners. “The company’s robust pipeline has further been bolstered by COVID-19 due to demand for advanced digital lending and banking services under the CARES Act and its turnkey SmartLenders solution.”
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