– USA, FL – NYMBUS, a leading provider of banking technology solutions, today announced a $53 million financing round led by Insight Partners.
Concurrent with the financing, AJ Malhotra, Principal at Insight Partners, will join Managing Director Peter Sobiloff on the Nymbus Board of Directors. Jeffery Kendall will assume the title of CEO and Chairman of the Nymbus Board of Directors.
“The shift to profitable digital banking is still in its early stages for many traditional institutions, and Nymbus fills a tremendous hole in the market for enabling these banks and credit unions to finally move beyond playing catchup and set up their businesses for meaningful growth,” said Peter Sobiloff, Manager Director at Insight Partners. “We look forward to continue working with Nymbus as they build out a best-in-class financial services model that is well positioned to be a leader in the industry.”
Nymbus will leverage the latest funds to empower financial institutions with expanded access to its unique GROW model which creates new digital revenue streams for banks and credit unions.
The round is Nymbus’ largest funding to-date and follows a year marked by overwhelming demand for the company’s proven alternative to the traditional banking model. With its complete suite of banking technology, tools, and on-demand services, Nymbus makes digital transformation quickly available to move any size financial institution forward.
“As the pandemic has pushed digital to the forefront, more banks and credit unions have turned to Nymbus as their partner for growth,” said Jeffery Kendall, CEO & Chairman of Nymbus. “This new and significant investment validates a confidence in Nymbus to continue transforming the financial services industry with a banking strategy that buys back decades of lost time to speed digital innovation.”
About NYMBUS
Nymbus enables banks and credit unions of any size to grow and attract new market segments by delivering a full suite of banking technology, including Loan Origination, CRM, and Digital, along with the operational resources to launch and run a new digital bank. Whichever growth path you choose, Nymbus buys back decades of lost time and accelerates your ability to engage and support the entire customer journey.
For more information: https://nymbus.com/
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create an opportunity for all.
For more information: https://www.insightpartners.com/
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