BridgeFund chooses Mambu to bring working capital to more SMEs

By Gloria Methri

BridgeFund, a challenger SME lender based in Amsterdam, has partnered with Mambu to help bridge the financial needs of more entrepreneurs.

By leveraging Mambu’s cloud banking platform, BridgeFund can reliably and easily build its deposit and lending offerings while scaling in the Dutch market and beyond.

BridgeFund provides an alternative financing platform that enables entrepreneurs to deposit money (and, in exchange, earn interest), which they can then borrow to invest. Since its founding, BridgeFund has already issued over 6,500 loans worth more than €300 million.

Previously running on an in-house-built core banking system, the lender needed a robust platform that allowed for scaling with the volume of its current products while supporting new offerings and geographies. BridgeFund chose Mambu as its cloud banking platform to free up resources and focus on innovation rather than maintaining legacy infrastructure.

Together with Mambu, the company can expand its account volumes and product offerings with ease while facilitating expansion into new markets.

Nick Lawler, Market Director, EMEA at Mambu, said, “At Mambu, we can take BridgeFund to the next level, helping it build and deploy financial offerings at scale, with ease of use and speed in mind. Supporting SMEs has always been a passion point for us at Mambu. Our research revealed that more than two-thirds of SMEs globally (67%) have been unable to secure sufficient, or any, funding on at least one or more occasions.”

Jeroen Groenewegen, CTO at BridgeFund, said, “We realised that to fulfil our mission of bridging the capital gap for SMEs, we needed to streamline our core foundation. However, our in-house system wasn’t built with large-scale expansion in mind, so we had to look at alternatives – this is when we found Mambu. Mambu’s quick time-to-market meant we were online with deposits in just six months and are currently working on doing the same with lending.”

The Netherlands is the second-largest market for alternative financing in Europe after the United Kingdom. With Mambu, BridgeFund can enhance its offerings with the flexibility to empower thousands of underserved SMEs globally.