Brim Financial recently announced a strategic partnership with Mambu, a software-as-a-service banking platform.
The partnership will aim to deliver a modern, more powerful digital banking, deposit, lending and cards platform across Canada, according to the Toronto-born startup, who believes the two company’s platforms are complementary.
“We are partnering with Mambu to redefine banking services in North America,” said Rasha Katabi, CEO of Brim. “In today’s fast evolving landscape, fintechs are looking for speed to market and real-time innovation.”
Brim’s modular platform-as-a-service technology and credit card infrastructure connects with Mambu’s cloud-native composable banking platform to deliver comprehensive products. Moreover, Brim’s suite of card capabilities for both businesses and consumers will now be integrated with Mambu’s platform.
“We have a lot of synergy with Brim and, together, we are uniquely positioned in the market to support financial institutions through their digital strategy, by creating a seamless embedded finance experience,” noted Cyrus Taheri, Mambu’s Head of Partners for North America.
Mambu was launched in 2011 and is based in Germany.
“We are well positioned to be at the forefront of this transformation that’s shaping the way we live, connect and engage for decades to come,” Katabi agreed.
Last year, Brim raised a $25 million Series B round, co-led by Desjardins Group and US-based EPIC Ventures. Some of that capital is funding a team expansion, highlighted by Brim’s recent appointment of Marqeta finance executive Arthur Zhao to the role of chief financial officer.
“This partnership further bridges the gaps in the current market, driving digital innovations and bringing significant benefits to our customers,” added Taheri. “Together, we can help institutions rapidly compose and launch best-in-class banking experiences.”