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Tuum raises EUR 15 mln in series A funding

Wednesday 26 January 2022 14:18 CET | News

Estonia-based modular banking startup Tuum has announced a EUR 15 million Series A funding round as it looks to strengthen its European presence.

The Tallinn-based company is among those trying to develop a more modular approach to overhauling the banking and financial services industry. It was founded in 2019 by a group of Estonian financial IT professionals.

Initially called Modularbank, Tuum has grown over the last few years, with contracted annual revenues up more than 3x in 2021. Tuum claims that its flexible, lean, and modular core banking platform helps banks, fintechs and traditionally non-financial companies to quickly roll out new financial products and services.

Tuum counts among its clients the likes of Banking Circle, LHV UK, Nets and Veriff, as well as other regulated banks, fintech companies and embedded finance players. The fintech raised EUR 4 million in seed funding in December 2020.

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Keywords: online banking, funding, startup, fintech
Categories: Banking & Fintech
Companies:
Countries: Estonia
This article is part of category

Banking & Fintech