Thursday, July 10, 2025
18 C
London
HomeBankingCore banking tech challenger Tuum secures €25m Series B to tap new...

Core banking tech challenger Tuum secures €25m Series B to tap new territories

Date:

Moment Raises $36 Million to Revolutionize Fixed Income Automation

Discover how Moment's innovative technology is set to transform...

Ripple Selects BNY Mellon for Custody of Its Stablecoin Assets

A Strategic Partnership to Enhance Digital Asset Management and...

Bank of England Fines VocaLink for Compliance Failures

Exploring the Implications of Regulatory Actions on Financial InstitutionsHighlights:...
  • Core banking vendor Tuum has raised €25 million in a Series B funding round led by CommerzVentures, with participation from Speedinvest and existing investors.
  • Tuum, based in Estonia, plans to use the funds to establish a stronger market presence in Germany, Austria, and Switzerland (DACH), as well as expand into Southern Europe and the Middle East, potentially opening a new office.
  • The company aims to enhance direct sales and marketing operations, incorporate managed service relationships into its partner channel, and invest in smart migration capabilities for core banking migrations within two months.
  • Tuum also plans to develop its Business Builder platform, allowing banking partners to configure their operating, sourcing, and distribution models.
  • The capital raised will be used to expand services offered through Tuum’s core banking platform, which currently covers accounts, lending, payments, and card services.
  • Tuum’s CEO, Myles Bertrand, highlights the goal of making core migrations for banks simple and predictable through smart migrations, a modular core, extensibility, and a broad ecosystem of partners.

Related stories

spot_img

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories