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MyBambu
Mobile banking
- 21-100 employees
- Fintech
- B2C
- Banking
- Credit cards
- Downtown, West Palm Beach, FL
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Company mission
To promote financial inclusion to the unbanked and underbanked by providing an array of financial solutions delivered via mobile devices.
Our take
For many Americans, conventional banking is inaccessible due to its monthly fees and verification requirements. MyBambu solves this problem by offering a cost-free banking service that doesn't require a social security number (SSN).
MyBambu is tapping into a vast and underserved market in the US by making it easier for unbanked individuals. With the continued shift towards a cashless economy, the demand for solutions like this is rising steadily. Unlike traditional banks, MyBambu accepts state-issued IDs, and it offers fast, low-cost money transfers to a number of Latin American countries.
MyBambu has received considerable praise for its accessibility and affordability, and given the model's success in the US, expansion into new territories such as the UK could well be on the horizon.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Medical Insurance
- Dental Insurance
- Vision Insurance
- Paid Time Off
Funding (2 rounds)
Aug 2022
$35m
EARLY VC
Jun 2016
$8.8m
EARLY VC
Total funding: $43.8m
Leadership
Douglas Quay
(CEO)Was Chairman of hedge fund Centennial Partners and mobile lending company Protective Draft Credit. Then served as Director of Trivantis Corporation.