In a bold move, Tuum announced it has successfully raised €25 million in a Series B financing round. This achievement, led by CommerzVentures and supported by Speedinvest alongside existing investors, marks a cornerstone in Tuum’s commitment to changing the banking industry with its software solutions.
With the fresh influx of capital, Tuum is poised to broaden its market presence, targeting strategic territories including the DACH region (Germany, Austria, and Switzerland), Southern Europe, and an exciting venture into the Middle East with the opening of a new office.
A Focus on Smart Migration and Business Builder
Tuum’s roadmap goes beyond expansion. The company plans to amplify its direct sales and marketing operations, forging key managed service relationships to extend its partner channel.
A significant part of the investment will be channeled into advancing Tuum’s “smart migration capabilities,” which promise to streamline core banking migrations within an impressive two-month timeframe.
The company also intends to refine its Business Builder platform, empowering banking partners to tailor their operating, sourcing, and distribution models. This move is aimed at providing banks with the flexibility and customization needed to thrive in today’s dynamic financial landscape.
A Future Without Limits
Tuum’s vision extends to enhancing the services offered through its core banking platform, currently made of accounts, lending, payments, and card services. This spectrum of functionalities caters to both the corporate and banking sectors, underscoring Tuum’s role as a solution provider in the fintech space.
Myles Bertrand, Tuum’s CEO, emphasizes the transformative potential of this Series B funding, stating:
We’re not just expanding our reach: we’re redefining the very essence of core banking for a digital-first future.
