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Mbanq receives inaugural institutional investment into newly launched funding program.
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Investment supports the company’s lending and Earned Wage Access growth strategy.
Mbanq, a U.S.-based provider of banking infrastructure and embedded finance technology, announced that its newly established institutional funding program has received its inaugural investment from a leading Swiss private bank.
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Mbanq secured the inaugural investment into its institutional funding program 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.
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