Florida, USA-based provider of financial technology solutions, Nymbus, raised USD 70 million in Series D. The round took place on May 25, 2023. Global software investor Insight Partners led the financing for the company. Additional investments from Nymbus clients ConnectOne Bank and PeoplesBank, alongside financial technology investors, The Banc Funds Company and Mendon Venture Partners, also joined in the Series D funding.

Purpose of financing for Nymbus

With the latest proceeds from Series D, Nymbus seeks to further expedite the expansion and advancement of its modern core system and diverse product portfolio.

What the investors have to add

Peter Sobiloff, Managing Director, Insight Partners, further added, “Financial institutions must pivot from traditional revenue models and seize novel opportunities to drive growth in the swiftly shifting financial landscape. Nymbus offers the necessary products and services for these organizations to secure a competitive edge. By shattering the norm, Nymbus’ pioneering approach to niche banking establishes the industry benchmark, concurrently innovating with flexible solutions to deliver enduring value for banks and credit unions. We look forward to endorsing their future ventures in these fields.”

In addition, Brian Canina, Chief Operating Officer and Chief Financial Officer of PeoplesBank, said, “We believe in the power of modernization and see our investment in Nymbus as a step towards shaping the future of banking. Nymbus’ cutting-edge solutions and strategic approach align with our mission to provide superior financial services while adapting to the evolving needs of our customers.”

Besides, Siya Vansia, ConnectOne Bank’s Chief Brand & Innovation Officer, said, “Forward-thinking innovation and partnership are integral to our philosophy, and Nymbus embodies these values. By investing in Nymbus, we endorse a company that resonates with our ethos and supports our mission of delivering modern financial services.”

Anton Schutz, Founder and Managing Partner of Mendon Venture Partners, “Nymbus is uniquely positioned to further modernize the banking and financial services landscape given its cloud-based solutions, innovative technology and in-depth knowledge of products and services. We’re thrilled to invest in this company, its leadership, and its team.”

Charles J. Moore, President of The Banc Funds Company, further added, “Through our investment in Nymbus, we are helping to shape the future of the industry and driving meaningful impact.”

What the founder has to add

Jeffery Kendall, Chairman and CEO of Nymbus, said, “This latest round of financing positions the company to double down on our mission of bringing new thinking to financial institutions to help them thrive in an ever-evolving market. These strategic investments are a testament to the confidence in Nymbus’ ability to transform the financial services industry by modernizing outdated legacy systems with proven technology and business models that result in growth for our current and future clients.”

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.


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