Nordic venture capital investor Industrifonden with participation of Velocity Capital and Frumtak Ventures leads a €7.5M funding round in Meniga, a global fintech company behind data-driven digital banking technology for leading banks, reaching more than 40 million users across close to 20 countries.
Meniga’s digital banking platform helps banks use personal finance data to develop online and mobile experiences for its customers. Founded in 2009, Meniga has pioneered the market for white-label digital banking solutions to become the preferred digital partner to world-leading banks, including Santander, Commerzbank and ING Direct, as well as some of the leading Nordic banks. Meniga’s team is headquartered in London, with offices in Reykjavik and Stockholm, where its development team is located.
“Meniga has a proven track-record and is in a unique position for further growth as an innovative digital partner to banks and advertisers, transforming the way they use transaction data. We are particularly excited about the opportunities in data-driven digital banking and proud to support the exceptional Meniga team,” says Sofia Ericsson Holm, investor at Industrifonden, responsible for the Meniga investment.
We have never seen higher demand for our solutions and innovation capabilities.
“We have never seen higher demand for our solutions and innovation capabilities. The funding allows us to accelerate growth and partner with more banks to help them transform the way customers engage with them via digital channels. Industrifonden is a great fit for Meniga and their team brings decades of experience to help us on our journey,” says Georg Ludviksson, CEO Meniga.
The investment enables further expansion into data-driven personal finance, transaction data analytics and card-linked offers for leading banks, in the trillion-dollar financial service sector. The company is already working with many of the world’s leading banks and has built a strong reputation as an innovation leader in digital banking at a time when banks are forced to re-think their customer strategy and business models.