Tuum, a London and Tallinn based core banking provider, announced that Citi Ventures, a venture capital arm of US-headquartered Citigroup, has become a strategic investor in the company as a follow-on from Tuum’s recently announced series B fundraising.
At the start of February, Tuum announced a EUR25m Series B fundraise led by
CommerzVentures, the proceeds from which will be used for product and market development.
The company plans to expand its international presence — targeting new territories in the DACH
region, Southern Europe, and the Middle East — and to accelerate investment in its market-
leading solution.
As strategic investors on behalf of Citi, Citi Ventures — whose mission is to catalyze innovation at
Citi by investing in and partnering with category-defining startups with the potential to revolutionize
financial services — has invested in an extension to the Series B round and plans to introduce
Tuum to key stakeholders within the bank to gauge interest in commercialization opportunities.
https://fintechnews.ch/london/citi-ventures-invests-in-core-banking-provider-tuum/69970/
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