About Multibank
Multibank is a company based in Panama City (Panama) founded in 1990 was acquired by Banco de Bogota in November 2019.. Multibank offers products and services including Multibank App, Savings Accounts, Loans, Investments, and Insurance Products. Multibank operates in a competitive market with competitors including Scotiabank, Banistmo, Global Bank, Banco Nacional and Banco General, among others.
- Headquarter Panama City, Panama
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Multibank Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
$300 M (USD), Debt – Conventional
Nov 09, 2022
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Investors
HSBC
& 3 more
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Employee Count
Employee Count
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Acquired by
Banco de Bogota
(Nov 18, 2019)
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Products & Services of Multibank
Multibank offers a comprehensive portfolio of products and services, including Multibank App, Savings Accounts, Loans, Investments, and Insurance Products. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mobile application for secure banking transactions and account management
Accounts designed for saving with interest and easy access
Various loans for personal, auto, and business financing needs
Options for investing in funds and securities for growth
Insurance services covering personal and business risks
Funding Insights of Multibank
- Total Funding Total Funding
- Total Rounds 1
- Last Round Debt – Conventional — $300.0M
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First Round
First Round
(09 Nov 2022)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2022 | Amount | Debt – Conventional - Multibank | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Multibank
Multibank has secured backing from 4 investors, including institutional investors. Prominent investors backing the company include HSBC, Sumitomo Mitsui Banking Corporation and Bladex. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Universal banking and financial advisory services are provided globally.
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Founded Year | Domain | Location | |
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Working capital loans are provided to international trade clients.
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Founded Year | Domain | Location | |
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Digital subsidiaries bank offering online banking services
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Multibank
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Multibank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Multibank Comparisons
Competitors of Multibank
Multibank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Scotiabank, Banistmo, Global Bank, Banco Nacional and Banco General, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Commercial banking services are offered in Panama City.
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| domain | founded_year | HQ Location |
Commercial banking services are offered in Panama.
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| domain | founded_year | HQ Location |
Commercial banking services are offered in Panama.
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| domain | founded_year | HQ Location |
Offers banking services including accounts, loans, and investments for individuals and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Multibank
Frequently Asked Questions about Multibank
When was Multibank founded?
Multibank was founded in 1990 and raised its 1st funding round 32 years after it was founded.
Where is Multibank located?
Multibank is headquartered in Panama City, Panama.
Who is the current CEO of Multibank?
Isaac A. Btesh is the current CEO of Multibank.
What does Multibank do?
Multibank was established in 1990 as a commercial bank in Panama, Panama. Operations focus on standard banking activities, including deposit accounts, loans, and payment processing for businesses and individuals. Services are delivered primarily within the Panamanian market, with oversight from local financial authorities. The institution is led by CEO Isaac A. Btesh, supporting economic activities in the region through reliable financial infrastructure.
Who are the top competitors of Multibank?
Multibank's top competitors include Scotiabank, Banco Nacional and Banistmo.
What products or services does Multibank offer?
Multibank offers Multibank App, Savings Accounts, Loans, Investments, and Insurance Products.
Who are Multibank's investors?
Multibank has 4 investors. Key investors include HSBC, Sumitomo Mitsui Banking Corporation, Bladex, and Banco de Bogota.
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