Ferratum Group Selects Mambu to Power SME Lending

Berlin, Germany - 1 July 2015

International mobile loan provider speeds time-to-market with flexible cloud platform

Mambu, the SaaS banking platform provider, today announced that Ferratum Group (FRU.F), a leading international provider of unsecured mobile consumer and business loans, has selected Mambu to power Ferratum Business, a new subsidiary focused on small business financing and loan services. Ferratum Group chose Mambu’s cloud-based lending platform for its flexibility and scalability and to accelerate the time-to-market for its new lending entity.

With Mambu’s cloud-based platform, Ferratum Business will offer working capital business loans (from 2K to 25K€) to small and mid-sized enterprises in the European Union. Using proprietary algorithms in conjunction with Mambu’s APIs, Ferratum Business is able to simplify and accelerate the loan application, origination and credit scoring process, allowing for loan disbursements within a day without collateral requirements. These new products managed on Mambu will work in tandem with the in-house system that Ferratum Group has employed for its current loan products.

“We saw an opportunity to offer small and midsized businesses a new source of financing to support their growth. Mambu gave us the ability to quickly and efficiently address a globally underserved segment of the market with an expedited rollout and the ability to service a diverse range of SME products,” said Scott Donnelly, Director of Business Lending for the Ferratum Group. “Using Mambu’s cloud platform, we have augmented our existing loan processes to offer a simple application and approval process for SME borrowers in Europe.”

This partnership marks the latest milestone in Ferratum Group’s ongoing global growth strategy, including the recent completion of the company’s IPO on the Frankfurt Stock Exchange.  Ferratum has a presence in 25 countries across Europe, North America and the APAC region (22 countries with operational activities as per June 16, 2015), and plans to introduce Ferratum Business to additional geographies over the course of 2015.  In addition, the company also plans to expand its product portfolio and develop its business to become a leading mobile bank.

“The growing demand for working capital has created an opportunity for lenders to reevaluate their business models to achieve long-term sustainable growth and meet the unserved needs of small and midsize enterprises,” said Eugene Danilkis, CEO of Mambu. “We’re excited to help Ferratum Group to launch this new venture and see ourselves as a partner in their efforts to expand and diversify their business lending across new markets and geographies in the future.”

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