The corporate venture arm of German lender Commerzbank has backed a fintech start-up that enables financial services providers to launch online operations, as large institutions continue their efforts to stay on top of the digital revolution in their industry by investing in young companies.

CommerzVentures, alongside Munich-based internet-focused growth equity fund Acton Capital Partners, co-led an €8 million investment round in Mambu, according to a January 11 statement from the start-up. Berlin-based Mambu provides cloud-based banking software that enables financial firms to set up online.