A digital payments firm founded by Tiernan Kennedy and Barry O’Mahony has raised $15m (€13.9m) in funding from the Dublin-based venture capital firm ACT and a host of other investors. Headquartered in San Francisco, where Mr Kennedy lives, Umba raised $2m in seed funding three years ago. Others participating in the funding round include Nubank, Monzo co-founder Tom Blomfield, Lux Capital, Streamlined Ventures and the former head of Stripe Issuing, Lachy Groom. Mr Kennedy, the company’s CEO, told the US website TechCrunch that Umba has been doubling its revenues every three months. “This is a great milestone for Umba, and we’re excited to bring in new partners to fuel our growth,” said Mr Kennedy.

Source: Irish Independent April 16, 2022 12:02 UTC