Berlin banking tech startup behind N26 and Oaknorth nabs €30m from Skype-backer Bessemer

Software-as-a-service startup Mambu, which provides banking rails to the likes of N26 and Oaknorth, has raised €30m (£26.3m) from the world's oldest venture capital firm.

Bessemer Venture Partners, which has backed the likes of Skype, Linkedin and Pinterest, led the round with participation also coming from Acton Capital, the venture arm of Commerzbank, Point Nine Capital and Runa Capital.

Read more: Business lender Iwoca rakes in £150m financing

Mambu said it will use the funding to invest in its sales and product teams, resulting in a "three-fold growth in headcount and six-fold in revenues" across its offices in London, the US, Europe, Singapore and Australia.

Its chief executive Eugene Danilkis said the firm has benefited from major banks needing to move at the pace of technology companies in order to stay relevant.

Launched in 2011, Mambu said it has experienced triple-digit growth for four consecutive years, with clients hailing from more than 50 countries.

Read more: Google and Salesforce inject $75m into London’s Gocardless

The news comes off the back of a bumper day for fintech funding rounds, with London's Iwoca and Gocardless both closing significant investment today.

Bessemer partner Brian Feinstein said Mambu's technology was a "game changer" in the financial services market which urgently needs to evolve.

He added: "Mambu has accomplished so much with a relatively small team and we are excited to be coming in to support them in their growth, at what we believe is a tipping point in the industry."