New investments
New investments, Tech

Mambu, a cloud banking platform provider, opening prime engineering centre in Lithuania

March 09, 2020

Mambu, an innovative cloud platform for banks, Fintechs and financial service providers, is establishing an engineering centre in Lithuania. The new Vilnius team, which is expected to grow to 100 employees within 3 years, will serve as one of the company’s prime engineering centres and play a key role in product development.

Established in Germany, Mambu currently has nearly 300 employees spread across the globe and offices in Berlin, Amsterdam, Dresden, Iași, London, Miami, Singapore, Sydney, and soon Vilnius. The company began as a provider of banking technology to microfinance institutions. It quickly grew to become a major SaaS banking platform that covers lending, banking, deposits, small and medium enterprise (SME) banking, commercial lending, trade finance and more. Mambu’s customers include banks like Santander’s Asto and ABN AMRO’s New10, major Fintechs like N26 and OakNorth, and telecommunications giant Globe Telecom.

According to Mambu CEO Eugene Danilkis, Lithuania’s regulatory flexibility and Fintech-friendliness make the country stand out from others as an investment location.

“Vilnius has been on Mambu’s radar for quite some time because it is an exceptionally Fintech-friendly city. We are very happy that we will be able to both learn from the talented engineers who are already here and to support the growth of the current talent pool in the country,” says Danilkis.

“It’s an exciting opportunity for all of us,” explains Andrius Bagdonavičius, Managing Director of Mambu’s Vilnius Engineering Centre. “Mambu is a global player. This means that every solution we develop here will impact millions of individuals across the globe. I’m certain there will be many interesting challenges for our engineering teams to tackle.”

“We are delighted to see that more and more international companies are choosing Lithuania as a location for developing their existing products or creating new ones. We are becoming a country where innovations and future products become reality. By joining Lithuania’s Fintech ecosystem, Mambu will further accelerate the growth of this sector and strengthen the country’s potential for the next big players”, states Marius Skuodis, Vice-Minister of the Economy and Innovation of the Republic of Lithuania.

The new Vilnius team, consisting of Software Engineers, Product Managers, Service Reliability Engineers, Integration Engineers, Engineering Managers, and Agile Leads and Coaches, is expected to play a key role in the company’s product development.

Mantas Katinas, the Managing Director at Invest Lithuania, says that Mambu’s presence will expand both the range of services offered from Lithuania’s Fintech ecosystem and the country’s pool of engineering talent.

“Mambu comes to Lithuania with ambitious plans,” Mr. Katinas points out. “The company will strengthen the potential and the competencies of Lithuania’s Fintech ecosystem. We are delighted to see the current trend of strong, well-established Fintechs choosing Lithuania as a location for growing and expanding their operations. Mambu’s decision to set up here proves that Lithuania has a strong global reputation not only for progressive regulation, but also for engineering talent and attractive investment conditions.”

The company is very keen to begin collaboration with local universities and other organisations working in the Fintech and IT sectors.

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Aistė Žebrauskienė
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