Venture Capital
Commerzbank has led a €25 million Series B financing round in Estonian core banking provider Tuum. : The funding flowed from the fintech venture arm of the German bank, CommerzVentures, with participation from Speedinvest and existing investors.Tumm last raised €1 million from client bank and BaaS component supplier LHV in April 2022.Andreas Kitter, co-CEO of LHV UK, comments: “Bank executives are put off doing core replacements because of the costs and risks involved. With Tuum, we migrated millions of customers accounts in two months.

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