Fintech Startup mmob Bags £5M To Provide Businesses With Service Of Embedded Finance
Fintech Startup mmob nets £5M to help financial and non-financial businesses in obtaining in embedded finance.
UK-based finance network mmob gathered funding of £5 million in the seed round led by a group of angel investors. With the inclusion of high net worth individuals and senior banking executives. This hefty amount of funding to this startup manifests that the rise in the value of fintech is going to be incessant just like last year.
As per the figures released by the Global Fintech market, the fintech market is anticipated to grow at a CAGR of 20% over the period next four years. Furthermore, the market value is expected to reach approximately $305 billion by 2025, according to GlobeNewswire. This is mainly due to the rise in the development of Fintech apps and websites which offer innovative solutions to consumers like smart savings, and investments, etc. Mainly, this is also one of the main reasons that Fintech startups are popping up in almost every corner of the world. And attracting a huge amount of investment from investors. As recently fintech startup Monite raised $5million to help neobanks & Saas businesses build new products. Similarly, another fintech startup Sanad Cash for facilitating on-demand pay gathered $1.6M. But mmob is different and offers a unique solution.
As the startup provides embedded finance services for both financial and non-financial brands. The startup further claims that in just two hours its customers receive the option of embedded finance. Other than this, it also provides personal dashboards which aids users in tracking performance and optimizing integrations. mmob is making the lives of people easy.
Yet often customers face a confusing journey in terms of payment, based on poorly implemented web directs broken links and relentless duplication of efforts. This kind of experience often drives customers away. But mmob is empowering the consumer-facing fintechs to instigate their growth via efficient integration and delivery of relevant products and services that meet their customers’ financial needs.
The company was founded in times of pandemic in 2020 by Irfan Khan. Whilst talking about the data-rich world and increase in the need for financial services demand from consumers. Founder and CEO Irfan Khan said
“Due to advances in technology and the wealth of data available, brands can responsibly respond to consumer demand and offer personalised options and attractive pricing for financial services. However, ease of integration between providers is key to fuelling the sector’s growth. This funding will enable us to further expand our operations in the U.K. and Malaysia.