CommerzVentures and Speedinvest led a €25m Series B funding round in Tuum.

CommerzVentures, a venture capital investor in early stage FinTech and InsurTech companies, and Speedinvest, a venture capital fund, led a €25m Series B funding round in Tuum, a next-generation core banking provider. “I joined Tuum in the summer of last year because I saw the gap in the market for its proposition. Everyone knows that banks need to replace their aging core banking systems if they are going to successfully adapt their business models for digital banking. However, no core banking vendor has to date made core migration simple and predictable, which is what Tuum is now doing through a combination of smart migrations, a modular and functionality rich core, massive extensibility, and a broad ecosystem of partners,” Myles Bertrand, Tuum CEO.