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NYMBUS RAISES $53 MILLION IN SERIES C FUNDING LED BY INSIGHT PARTNERS


RECORD INVESTMENT TO FUEL NEW ERA OF GROWTH IN FINANCIAL SERVICES

February 10, 2021

 2 min read


MIAMI – February 10, 2021 – NYMBUS®, a leading provider of banking technology
solutions, today announced a $53 million financing round led by existing
investor Insight Partners – notable for backing ScaleUp SaaS companies with
capital and operational support. 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 part of this round, 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.

“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.”

In addition to supporting a surge of clients and rapid company expansion, the
investment will allow Nymbus to continue broadening its solution and service
offerings. This includes the soon-to-be-unveiled Nymbus Labs, built and operated
to systematically remove barriers for institutions to leverage niche digital
banks that connect to the communities they serve, create new revenue streams,
and innovate.

“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.”

For more information, please visit nymbus.com.


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.


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 opportunity for
all. For more information on Insight and all its investments, visit
insightpartners.com or follow us on Twitter @insightpartners.

Media Contact
Susie Dougherty
sdougherty@nymbus.com
781-901-9232

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Posted on Feb 10, 2021 under Press



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