- Mbanq receives inaugural institutional investment into newly launched funding program.
- Investment supports the company’s lending and Earned Wage Access growth strategy.
ZURICH–(BUSINESS WIRE)–#CapitalMarkets–Mbanq, a U.S.-based provider of banking infrastructure and embedded finance technology, today announced that its newly established institutional funding program has received its inaugural investment from a leading Swiss private bank.
The investment marks an important milestone in the development of Mbanq’s institutional funding capability and supports the continued expansion of the company’s lending and Earned Wage Access (EWA) platform.
Earned Wage Access has become one of Mbanq’s key growth areas, enabling banks, credit unions, fintechs and enterprise organizations to offer employees responsible access to earned wages before payday. As demand for these and other lending solutions continues to grow, the institutional funding program provides a scalable framework through which Mbanq may access funding to support portfolio growth.
“This inaugural institutional investment represents an important milestone for Mbanq. It demonstrates confidence in our long-term strategy and strengthens the financial infrastructure that supports our lending business. As demand for Earned Wage Access and other lending solutions grows, we’re investing in the capabilities that enable our clients to scale with confidence,” said Vlad Lounegov, CEO of Mbanq.
The funding program is structured through U.S. dollar-denominated loan participation notes (ISIN: DE000A4MGVH3) admitted to trading on the Open Market (Freiverkehr) of the Düsseldorf Stock Exchange. The program has an aggregate capacity of up to US$100 million.
Founded in 2016, Mbanq has operated profitably since 2019. The company provides core banking technology, Banking-as-a-Service, Lending-as-a-Service, Compliance-as-a-Service, payments, card issuing and embedded finance infrastructure to banks, credit unions, fintechs and enterprise organizations worldwide.
Notes are issued by Encore Issuances S.A., acting in respect of its compartment 193. Barons Capital Partners SA acted as adviser on the transaction. Addleshaw Goddard LLP served as legal counsel. Chartered Investment Germany GmbH acts as Servicer and Calculation Agent. Baader Bank AG acts as Custodian and Paying Agent. ICON Asset Management AG serves as Risk Monitoring Agent.
About Mbanq
Mbanq is a U.S.-based banking infrastructure and embedded finance company that enables banks, credit unions, fintechs and enterprise organizations to launch and operate modern financial services. Its cloud-native platform combines banking technology, compliance, payments, lending, card issuing and operational support, helping clients bring financial products to market more quickly while reducing complexity.
Mbanq operates globally through subsidiaries in the United States, the United Kingdom, Croatia, Montenegro, India, Singapore and Cambodia. The company maintains internationally recognized certifications, including ISO 27001, ISO 9001, AICPA SOC 2 Type II, PCI DSS and SOX compliance. www.mbanq.com
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the anticipated growth of Mbanq’s lending and Earned Wage Access platform and the expected development and use of the institutional funding program described herein. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Mbanq undertakes no obligation to update any forward-looking statements except as required by applicable law.
Important Information
This announcement is provided for informational purposes only and does not constitute, or form part of, an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction, nor does it constitute a recommendation regarding any securities. Any offering of securities referred to herein may be made only pursuant to applicable offering documentation and in accordance with applicable securities laws and regulations.
The securities referenced in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons except pursuant to an effective registration statement or an available exemption from the registration requirements of the Securities Act and other applicable securities laws.
Nothing contained in this announcement should be construed as investment, legal, tax or financial advice.
Contacts
Alex Player
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