London-based Meniga, a fintech company that provides digital banking solutions to large banks, has raised €8.5 million in strategic investments from French banking group Groupe BPCE, Portugal’s Grupo Crédito Agrícola and long-standing strategic partner UniCredit. Velocity Capital, Industrifonden and Frumtak Ventures also participated in the round. Commenting on the new investors, CEO and co-founder Georg Ludviksson said, “Partnering closely with our customers is a key part of our strategy to be the preferred digital innovation partner to our clients. An equity relationship is an excellent way to strengthen such partnerships.” Crédito Agrícola recently launched a new banking app powered by Meniga.
Founded by three Icelandic entrepreneurs, the digital banking platform helps banks make use of transaction data and consumer trends to create a better digital experience for their customers. Meniga offers a variety of digital services: data aggregation technologies, personal and business finance management solutions, cashback rewards and transaction-based carbon insights. The company says its product is already being used by more than 90 million banking customers across 30 countries. Last year the team acquired Swedish rewards platform Wrapp and opened offices in Barcelona and Singapore. Headquartered in London, the business also has offices in Reykjavik, Stockholm, Helsinki and Warsaw.
Photo: Co-founder and CEO Georg Ludviksson