Prague, 27 February 2017 – Home Credit Venture Capital (“HCVC”), the venture investment arm of Home Credit Group, today announced it has made its first investment of $8 million, leading the $16 million total funding round in Nymbus, Inc. (“Nymbus”), a developer of modern core banking technologies for community banks, credit unions and FinTech disruptors. The investment will be used by Nymbus to expand its implementation team, develop new product features and scale up sales.
Nymbus, a Miami, FL-based innovator, leverages a modern, real-time, multi-tiered integrated platform developed over more than a decade in large-scale media business to deliver a solution which overcomes drawbacks of traditional core banking systems – lack of 360 customer view, batch-mode technologies and suboptimal end-to-end integration.
Established in 2016, HCVC operates as a corporate venture capital fund and typically participates in Seed, A and B investment rounds. It seeks to build up a portfolio of investments in start-ups which can provide strategic synergies with Home Credit Group’s businesses. More specifically, the three areas where HCVC invests are novel primary and secondary distribution channels, new core technologies especially in risk management and anti-fraud and non-traditional business models in consumer finance.
HCVC offers its portfolio companies an unparalleled opportunity to rapidly scale their innovations across Home Credit Group’s 11 diverse markets, from the USA, through Central and Eastern Europe, including Russia, to India, China and South-East Asia.
“We are excited to enter into a long-term partnership with Nymbus and join Insight Venture Partners as a second institutional investor”, said Miroslav Boublik, Group Head of Special Projects, Home Credit Group and Managing Partner, HCVC. “Our investment in the company was motivated by NYMBUS’ massively scalable, innovative technological solution, experienced team and impressive overall business traction. In the future, the relationship will allow us to partner with community banks and credit unions to improve financial inclusion by lending to currently underserved customer segments.”
David Mitchell, President at NYMBUS, said: “Home Credit Group is a global innovator in retail financial services, with remarkable success at helping its millions of customers worldwide. We’re thrilled for their support and partnership as NYMBUS continues to expand and disrupt the financial technology market.”
Zelig Associates facilitated the transaction between Home Credit Venture Capital and Nymbus.
NOTES TO EDITORS
NYMBUS, Inc. provides the most modern and advanced core processing platform built to date. The NYMBUS solution is a secure, cloud-based, full-stack product that includes all of the mission-critical functions financial institutions need to build their businesses. NYMBUS’ revolutionary platform enables financial institutions to effectively respond to today’s digital revolution with a holistic, pre-integrated solution that includes an entire core platform with all digital channels and payments to service their customers and members.
About Home Credit Group
Home Credit B.V. (‘HCBV’ or ‘the Group’) is an international consumer finance provider with operations in 11 countries where there is high potential to grow. Founded in 1997, we focus on responsible lending primarily to people with little or no credit history. Our services are simple, easy and fast. We operate in highly attractive markets with significant barriers to entry. We are a leading provider of consumer finance in selected countries. It is our experience and knowledge across the different markets, which sustainably puts us ahead of our competitors. We drive and broaden financial inclusion for the unbanked population by providing a positive and safe borrowing experience – the first for many of our customers. We promote higher living standards and meet borrowers’ financial needs.
Our 103.9 thousand employees have so far served 64.2 million customers through the vast distribution network comprising 241,460 points of sale, loan offices, branches and post offices. HCBV’s total consolidated assets reached EUR 12.4 billion as at 30 September 2016. More information on HCBV is available at www.homecredit.net.
The majority shareholder (88.62% stake) of Home Credit B.V. is PPF Financial Holdings B.V., a 100% subsidiary of PPF Group N.V. (“PPF”). PPF invests into multiple market segments such as banking and financial services, telecommunications, insurance, real estate, metal mining, agriculture, retail and biotechnology. PPF’s reach spans from Europe to Russia, the USA and across Asia. PPF owns assets of EUR 24.2 billion (as at 30 June 2016). More information on PPF is available at www.ppf.eu.
A minority stake (11.38%) of Home Credit B.V. is held by EMMA OMEGA LTD, an investment holding company ultimately owned by Mr. Jiří Šmejc. More information on Emma Capital is available at www.emmacapital.cz
About Zelig Associates
Zelig Associates is a global FinTech investment banking boutique based in Europe and North America. We provide independent strategic and financial advice to entrepreneurs, private equity firms and venture-funded companies as well as international corporations. The firm combines entrepreneurial spirit and transaction excellence with a passion for the FinTech sector.
CONTACTS FOR MEDIA
Group Head of Public Relations
Home Credit B.V. / Home Credit International, a.s.
Tel.: +420 224 174 066