Yimba secures £250k from the Development Bank of Wales to scale its mobile wallet platform
The Development Bank of Wales backed the fintech startup to accelerate its technology capabilities and create new jobs.
Share allotment filed at Companies House
Yimba provides a multimedia and marketing platform designed to improve bank digital wallet integrations. The company offers cloud-based CRM, CMS, and marketing services integrated across proprietary payment networks.
Yimba has secured £250k in equity finance from the Development Bank of Wales. The funding will be used to accelerate the company capabilities in helping banks and fintech firms improve customer experience through personalised payment cards and digital wallets.
Founded by Robert Dowd, the fintech startup offers a technology platform that connects to digital payment networks with minimal code integration. The investment is also expected to create more than 50 new jobs in the region.
David Blake, assistant investment executive at the Development Bank of Wales, noted that the startup has attracted attention from the investor community and major wallet providers due to its experienced team and positioning in the mobile payments sector.
From the founder
"Mobile wallets such as Apple Pay are growing in adoption but research shows that persoanlisation is a critical in the success of digital marketing. While customers want compelling content and a personalised experience, payment and financial apps are not currently meeting consumer expectation."
Robert Dowd
CEO and Co-founder at Yimba
Investor perspective
"The increasing use of mobile devices for payments and marketing plus the calibre of the highly experienced team means that Yimba has grabbed the attention of the investor community and wallet providers such as Apple Pay."
David Blake
Investment Executive, Development Bank of Wales
Use of funds
- 01Grow the team
- 02Continue product development