The Business Wire announcement said a leading Swiss private bank made the first investment, backing Mbanq’s lending and Earned Wage Access expansion through loan participation notes listed in Düsseldorf.
Mbanq said its newly established institutional funding program has received its first investment from a leading Swiss private bank, a step the company said strengthens its funding capacity as it expands lending and Earned Wage Access (early access to wages before payday). The U.S.-based banking infrastructure and embedded finance company said the program is structured through U.S. dollar-denominated loan participation notes, identified by ISIN DE000A4MGVH3, that are admitted to trading on the Open Market (Freiverkehr) of the Düsseldorf Stock Exchange, with aggregate capacity of up to $100 million. Chief Executive Officer Vlad Lounegov said the inaugural investment reflects confidence in Mbanq’s long-term strategy and reinforces the financial infrastructure behind its lending business. Founded in 2016, Mbanq said it has operated profitably since 2019 and provides core banking technology, Banking-as-a-Service, Lending-as-a-Service, Compliance-as-a-Service, payments, card issuing and embedded finance infrastructure globally.