Cloud banking platform Mambu has acquired technology provider Numeral, a French provider of payment technology for banks and FinTechs, as the firm seeks to strengthen its market presence to seize new growth opportunities.

As part of the buyout, the company is expanding its payment capabilities by integrating an API platform, which includes advanced technology for payment solutions, into its core banking offering.

The platform aims to enable banks, FinTechs and non-financial services companies to manage end-to-end payment workflows, support multiple payment methods, and provide real-time transaction capabilities.

Mambu will also leverage on Numeral’s existing client base which includes well-known banks such as BNP Paribas, Barclays, HSBC and ABN AMRO.

The agreement aims to strengthen Mambu's position in the FinTech landscape.

According to data from Mambu, the total value of bank payments in the Eurozone in 2022 reached €191 trillion, 58 times more than card payments, currently standing at €3.3 trillion.

Founded in 2021, Paris-based company Numberal processes more than €10 billion in payments annually and has established a strong presence in Europe, having expanded its operations to the UK last year.

Fernando Zandona, chief executive at Mambu, said that the acquisition aims to deliver a more modern, comprehensive payment offering which is now an integrated part of Mambu’s product portfolio.

“Numeral’s advanced payments platform will enable us to address changing customer demands, strengthen existing product lines and expand our market reach, while offering businesses advanced capabilities to meet an extensive range of needs,” he said.

---