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Tuum, leading in banking tech, secures investment from Citi Ventures.

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TLDR:

  • Tuum, a leading core banking technology provider, secures investment from Citi Ventures.
  • The investment will fuel product development and market expansion in various regions.

Article Summary:

Tuum, a pioneer in next-generation core banking solutions, recently received a significant investment from Citi Ventures, a leading venture capital firm associated with Citigroup. This investment, as an extension to Tuum’s Series B funding round led by CommerzVentures, is earmarked for ambitious product development and market expansion in the DACH region, Southern Europe, and the Middle East. Tuum’s innovative platform combines API-first, cloud-agnostic, and modular technologies to offer a balance of no-code hyper-configurability and cost-efficiency, aiming to modernize banking infrastructures. With a smart migration approach, Tuum enables its clients to transition to new systems within seven months, unlocking new digital possibilities for banks. The capital from Citi Ventures will advance Tuum’s product and market development strategies, expanding its international footprint and reinforcing its position as a frontrunner in the banking technology space. Luis Valdich, Managing Director at Citi Ventures, expressed excitement about the partnership, emphasizing Tuum’s potential to drive transformation in the industry. Tuum CEO Myles Bertrand welcomed Citi Ventures’ investment as a significant endorsement and a milestone for the company, signaling a bright future ahead.


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