Meniga, the London-headquartered fintech that provides digital banking innovation to some of the world’s largest banks, has closed a EUR8.5 million in additional financing. Explained primarily as a”tactical financial investment,”the round is led by
Groupe BPCE, the second-largest banking group in France, alongside Portugal’s Grupo Crédito Agrícola and long-standing strategic partner UniCredit. All 3 are consumers of Meniga. The financing will be used for ongoing financial investment in Meniga’s R&D activities, as well as to reinforce the fintech
‘s sales and service groups to meet what it says is growing need. Other individuals in the round consist of existing institutional investors Speed Capital, Industrifonden, and Frumtak Ventures. “We are really delighted to welcome Groupe BPCE and Crédito Agrícola to our growing group of tactical financiers, “says Georg Ludviksson,
CEO and co-founder of Meniga, in a statement.” Partnering carefully with our consumers is a key part of our method to be the favored digital innovation partner to our clients. An equity relationship is an outstanding way to enhance such collaborations”. Meniga’s digital banking platform helps banks and fintechs use individual financing information to innovate in their online and mobile offerings.
Its numerous products consist of a software application layer that bridges the space between a bank’s legacy tech infrastructure and a modern-day API, making it simpler to develop consumer-friendly digital banking experiences. Meniga’s item suite covers information aggregation technologies, personal and organisation finance management solutions, cashback benefits and transaction-based carbon insights. The company’s tech has actually also been designed to support and benefit from Open Banking, and helped by this, its services and products are currently used by more
than 90 million banking clients throughout 30 countries. This saw it open brand-new workplace areas in Barcelona and Singapore in 2019, contributing to its existing presence in London, where the business is headquartered, and Reykjavi, where much of
its R&D lies, along with offices in Stockholm, Helsinki and Warsaw. Lead financier Groupe BPCE first partnered with Meniga back in 2018. Hint declaration from Groupe BPCE’s Yves Tyrode, chief&digital and data officer, and member of the management board of Groupe BPCE:
“Our collaboration with Meniga has been extremely positive to date. Together, we have actually prepared for continued digital innovation at Groupe BPCE to much better serve our clients in an extremely dynamic banking market. We anticipate continue transforming our digital client experience and contribute to developing the future of digital banking together with Meniga”. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.