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mmob secures £ 5 million investment in seed – UK technology investment news

London’s Embedded Finance Network mmob closes a £ 5 million seed round

Investments to be used for technological innovation, global expansion and to extend market leadership

March 9, 2022, London, Citymmb, the UK’s first incorporated financial network today announced the successful completion of an initial £ 5 million round. The investment was raised by a group of angelic investors, including high net worth individuals and senior banking executives. mmob will use the investment to advance the development of its technology platform, enter new markets including Malaysia and strengthen its leadership position within embedded finance.

mmob enables consumer-facing fintechs to enhance their growth through the rapid integration and delivery of relevant products and services that meet their clients’ financial needs. His close links with the banking sector allowed him to execute and mobilize quickly. From the start, the company has built an impressive network of partners including PensionBee, iwoca, Cuckoo, Superscript, So-Sure, Anorak, and Uinsure.

“With growth forecast to increase from around £ 32 billion in 2020 to over £ 100 billion by 2026, embedded finance is one of the most attractive growth areas in fintech today,” said James Gossip, investor and former head of strategy and COO for HSBC in Malaysia. “The investment will allow mmob to further invest in its platform and team to help brands capitalize on the opportunity offered by embedded finance and become a major force in driving industry growth.”

mmob was founded in 2020 to offer continuation of embedded finance for both financial and non-financial brands. The company is led by founder and CEO, Irfan Khan, a specialist in digital transformation and FinTech.

“Thanks to technological advances and the wealth of data available, brands can responsibly respond to consumer demand and offer customized options and attractive pricing for financial services,” said Irfan Khan, CEO of mmob. However, ease of integration between suppliers is key to fueling industry growth. This funding will allow us to further expand our operations in the UK and Malaysia and establish ourselves as the de facto leader and number one choice for integrated financial services moving forward. ”

Mmob’s built-in financial network was designed to eliminate the complexity, time and resources that consumer fintechs need to select and deliver partner-driven services. Through its API, brands can quickly and easily connect to mmob’s Third Party Partner Network (TPP) and incorporate new services that promote customer engagement and retention.

About mmob

Recently named by Business Leader as one of 32 companies that will dominate 2022, mmob (www.mmob.com) aims to eliminate the complexity, time and resources that brands need to select and deliver partner-driven services. Through its API, banking and large fintech operators can quickly and easily connect to mmob’s third-party partner network using a single line of code and rapidly deploy complementary digital products and services for their customers.

Using the consent-based data available to them, brands can obtain the information they need to create seamless experiences that increase service retention and persistence, while reducing the drop off that typically accompanies less sophisticated user journeys.

By connecting its business partners with third-party product suppliers and the consumer, mmob’s built-in financial network is primarily focused on delivering value through the implementation of end-to-end native travel.

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mmob secures £ 5 million investment in seed – UK technology investment news

Source link mmob secures £ 5 million investment in seed – UK technology investment news

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