Banking technology innovator Nymbus has successfully concluded a Series D funding round, raising an impressive $70 million. Insight Partners, a prominent venture capital firm, spearheaded the investment, with participation from valued clients ConnectOne Bank and PeoplesBank.
Nymbus has established fruitful partnerships with regional banks and credit unions, assisting them in migrating from outdated systems and launching specialized banks aimed at attracting new customers and competing with larger institutions. The infusion of funds will accelerate Nymbus’ expansion plans and enable the development of enhanced product offerings.
Jeffery Kendall, the CEO of Nymbus, expressed enthusiasm about the recent financing, emphasizing the company’s commitment to introducing fresh perspectives to financial institutions. He stated, “This latest round of funding positions the company to reinforce our mission of empowering financial institutions to thrive in an ever-evolving market.”
Peter Sobiloff, the Managing Director at Insight Partners, highlighted the need for financial institutions to adapt their revenue models and seize emerging opportunities amidst the rapidly changing financial landscape. Sobiloff acknowledged Nymbus’ crucial role in offering essential products and services that enable organizations to secure a competitive edge. He remarked, “Nymbus provides the necessary tools and solutions for these organizations to remain at the forefront of innovation and drive growth.”
