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February 6, 2024

Tuum rocks AI-powered banking $27M raised with 24 slide pitch.

Estonian fintech startup Tuum has raised $27 million in funding to support its expansion plans. The startup provides cloud-native core banking infrastructure technology, enabling banks and financial institutions to offer cloud-based services through APIs. The funding round was led by CommerzVentures and Speedinvest. Tuum plans to use the funding to hire more employees and grow its engineering and product development teams. The startup has already expanded its operations beyond Europe, opening an office in the Middle East. Tuum’s CEO, Myles Bertrand, believes that cloud-based core banking technology is ready for mass adoption, thanks to the efforts of fintechs and tech giants in promoting cloud-native technology.