BankingOFG Bancorp Invests $3 Million in Nymbus

BusinessWire BusinessWireAugust 6, 20213 min

NYMBUS®, a leading provider of banking technology solutions, today announced a $3 million financing round led by OFG Ventures, LLC, a subsidiary of OFG Bancorp [NYSE: OFG]. The investment is intended to further support significant demand for Nymbus’ unique financial services model that accelerates digital innovation for creating new products, routes to market and revenue streams for banks and credit unions.

“Our mission has remained steadfast to help financial institutions of any size succeed with impactful, intentional innovation,” said Jeffery Kendall, Chairman and CEO of Nymbus. “OFG Ventures’ investment is an added vote-of-confidence to the value our strategy brings to an industry widely in need of immediate and sustainable business growth opportunities.”

Nymbus integrates everything needed to build out and operate a full-scale digital bank positioned for success on day one. Its Banking-as-a-Service (BaaS) model means skipping a core conversion and the need to hire additional resources. The Nymbus Labs award-winning support team further leads marketing efforts through intentional branding and comprehensive data. This partnership empowers client institutions to offer robust solutions founded on speed, flexibility and meaningful growth.

“We believe banks should strive to innovate and redefine their business models in order to serve their customers better. Today’s digital world forces banks to be agile and inventive when it comes to customer convenience and value-added services,” said Ganesh Kumar, Director at OFG Ventures. “We are excited to contribute in the effort for assisting more of our financial institution peers with access to Nymbus’ proven strategy to profitable innovation.”

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