British embedded finance network mmob has closed a £5 million seed funding round to finance a move into new markets, including Malaysia.
Founded in 2020, mmob has built a network designed to help banks and large fintech quickly and easily, with a single line of code, embed a plethora of services to their online ecosystems from a range of industries including pensions, money transfers, insurance, cashback, and household services.
The company’s network of partners includes PensionBee, iwoca, Cuckoo, Superscript, So-Sure, Anorak, and Uinsure.
The funding, which came from a group of angels, will be used for the Malaysia push, as well as development of the firm’s technology platform.
Irfan Khan, CEO, mmob, says: “This funding will enable us to further expand our operations in the UK and Malaysia, and establish ourselves as the de facto leader and number one choice for embedded financial services moving forward.”
