Latest news with #Numeral
Finextra
27-05-2025
- Business
- Finextra
Mambu unveils Mambu Payments
Today, global cloud banking leader Mambu unveils Mambu Payments, expanding its composable banking platform to include modern, end-to-end payment capabilities. 0 Following its acquisition of payments technology provider Numeral in December 2024, this marks a significant step forward in Mambu's mission. The launch of Mambu Payments means Mambu is poised to help financial institutions modernise core infrastructure and accelerate innovation across the entire banking stack, spanning lending, deposits, and payments. Modernising payment infrastructure is a strategic priority for financial institutions facing regulatory pressure, the rise of instant payments and industry-wide shifts like ISO 20022, and increasing customer expectations for speed and reliability. Yet many are still constrained by fragmented legacy systems that hinder innovation and scalability. Mambu Payments addresses this challenge with advanced, composable capabilities that integrate seamlessly into any core banking ecosystem. Acting as a universal gateway, it connects institutions to a growing network of pre-integrated clearing systems, partner banks, and payment schemes, while enabling end-to-end automation through a modern payments hub. Mambu Payments is quickly gaining traction - longstanding Mambu customers are building on years of successful collaboration on their core banking and expanding their partnership with Mambu to modernise their payments including Western Union, INDEXO Bank and BCB Group. 'Mambu Payments brings the same qualities that made Mambu's cloud banking platform the core of choice for forward-thinking financial institutions: cloud-native, API-first, and composable,' said Mark Geneste, Chief Revenue Officer at Mambu. "Mambu supports more than 260 financial institutions globally, helping them to modernise and migrate from legacy technology to future-proof solutions. Financial institutions can now choose to start with deposits, lending, or payments and easily expand across the platform as their needs evolve.' 'We wanted our customers to get the best of both worlds,' said Édouard Mandon, VP Payments at Mambu. 'Composability where it matters and an integrated solution with end-to-end workflows where it drives value and reduces friction. That's why we built the native integrations between our payments, lending, and deposit modules the way we did — to give customers the flexibility to choose their own path.'
Associated Press
05-03-2025
- Business
- Associated Press
Numeral Secures $18 Million in Series A Funding to Help Businesses Manage State-by-State Sales Tax Requirements
Numeral, a company that handles the intricacies of sales tax compliance for both ecommerce and SaaS companies, has secured $18M in Series A funding led by Benchmark Capital with participation from existing seed investors Uncork Capital, Y Combinator and FundersClub. Numeral has raised $22 million to date and has seen 3X+ revenue and customer growth in the past year based on its ability to help over 1,000 businesses, including Ridge, Graza, immi, Nomad and Muddy Bites, collect tax for out-of-state sales, as mandated by the U.S. Supreme Court in 2018. 'A company doing $5M in sales typically owes sales tax in more than 30 states, which means they need to comply with the tax rules of nearly 10,000 jurisdictions,' said Sam Ross, co-founder, Numeral. 'By streamlining and automating the sales tax process and handling everything from registration to remittance, Numeral takes a major task off the plate of accounting teams, giving them their time and resources back and increasing productivity throughout the business.' Numeral will use its financing to extend its focus to include SaaS companies, as 25 states today require sales tax on software sales, a number that is sure to grow in the coming year as states seek new revenue sources. Numeral will also use the new funds for international expansion and to secure additional engineering talent. 'Sales tax for digital businesses like ecommerce and software is a huge lift with an extraordinary amount of complexity. Further, adding international markets increases this complexity exponentially,' said Chetan Puttagunta, General Partner, Benchmark, and new Numeral board member. 'Numeral is leveraging AI to solve critical business challenges and help businesses expand into new markets with fewer barriers.' Numeral was founded in early 2023. Co-founders Sam Ross, an entrepreneur with multiple ecommerce startups generating over $50 million in revenue, and Matt DuVall, a software engineer who led teams at Stripe, Notion, and Box, bring deep industry experience to the company. Ross' direct experience with the headache of filing sales taxes across many states was the basis for starting Numeral. About Numeral Numeral, founded in 2023 and based in San Francisco, handles the intricacies of sales tax compliance for both ecommerce and SaaS companies, providing support throughout the process, from registration to remittance. Numeral has nearly 1,000 active customers and is funded by Benchmark Capital, Uncork Capital, Y Combinator, and FundersClub. For more information, visit Jennefer Traeger 720-988-6149 SOURCE: Numeral Copyright Business Wire 2025. PUB: 03/05/2025 12:30 PM/DISC: 03/05/2025 12:30 PM
Yahoo
05-03-2025
- Business
- Yahoo
Numeral Secures $18 Million in Series A Funding to Help Businesses Manage State-by-State Sales Tax Requirements
Established Ecommerce Solution Provider Simplifies the Process of Collecting and Reporting Sales Tax for Out-of-State Transactions; New Investment Will Fuel Expansion into SaaS Marketplace SAN FRANCISCO, March 05, 2025--(BUSINESS WIRE)--Numeral, a company that handles the intricacies of sales tax compliance for both ecommerce and SaaS companies, has secured $18M in Series A funding led by Benchmark Capital with participation from existing seed investors Uncork Capital, Y Combinator and FundersClub. Numeral has raised $22 million to date and has seen 3X+ revenue and customer growth in the past year based on its ability to help over 1,000 businesses, including Ridge, Graza, immi, Nomad and Muddy Bites, collect tax for out-of-state sales, as mandated by the U.S. Supreme Court in 2018. "A company doing $5M in sales typically owes sales tax in more than 30 states, which means they need to comply with the tax rules of nearly 10,000 jurisdictions," said Sam Ross, co-founder, Numeral. "By streamlining and automating the sales tax process and handling everything from registration to remittance, Numeral takes a major task off the plate of accounting teams, giving them their time and resources back and increasing productivity throughout the business." Numeral will use its financing to extend its focus to include SaaS companies, as 25 states today require sales tax on software sales, a number that is sure to grow in the coming year as states seek new revenue sources. Numeral will also use the new funds for international expansion and to secure additional engineering talent. "Sales tax for digital businesses like ecommerce and software is a huge lift with an extraordinary amount of complexity. Further, adding international markets increases this complexity exponentially," said Chetan Puttagunta, General Partner, Benchmark, and new Numeral board member. "Numeral is leveraging AI to solve critical business challenges and help businesses expand into new markets with fewer barriers." Numeral was founded in early 2023. Co-founders Sam Ross, an entrepreneur with multiple ecommerce startups generating over $50 million in revenue, and Matt DuVall, a software engineer who led teams at Stripe, Notion, and Box, bring deep industry experience to the company. Ross' direct experience with the headache of filing sales taxes across many states was the basis for starting Numeral. About Numeral Numeral, founded in 2023 and based in San Francisco, handles the intricacies of sales tax compliance for both ecommerce and SaaS companies, providing support throughout the process, from registration to remittance. Numeral has nearly 1,000 active customers and is funded by Benchmark Capital, Uncork Capital, Y Combinator, and FundersClub. For more information, visit View source version on Contacts Media Contact:Jennefer TraegerTraeger Communications720-988-6149jtraeger@ Sign in to access your portfolio
