Cloud-based core banking vendor Mambu has acquired Paris-based banking aggregation and payment automation platform Numeral.
Upon completion, Numeral’s platform will be integrated into Mambu’s core banking offerings as the Dutch firm eyes market expansion and long-term growth.
Mambu CEO Fernando Zandona says: “This acquisition marks a considered move to deliver a more modern, comprehensive payment offering which is now an integrated part of Mambu’s product portfolio. Numeral’s advanced payments platform will enable us to address changing customer demands, strengthen existing product lines and expand our market reach, while offering businesses advanced capabilities to meet an extensive range of needs.”
Launched in 2021, Numeral processes more than €10 billion in payments annually and has established a strong presence in Europe, having expanded its operations to the UK last year. The firm provides the payment infrastructure for a host of European banks and fintechs, including WorldFirst, Argentex and Alma and has struck up payments partnerships with the likes of BNP Paribas, Barclays, BPCE, HSBC and LHV.
Édouard Mandon, co-founder and CEO, Numeral, says: "Bringing together our dedicated payments technology with Mambu’s leading cloud banking platform and global customer base, we can enable more companies to make their payments future-proof and ever-compliant while eliminating hidden payment complexity at scale.”
Mambu currently supports over 260 customers in over 65 countries - including Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO, and Bank Islam.
Terms of the transaction were not disclosed.