Meniga raises €7.5 million funding round

Meniga raises €7.5 million funding round

London headquartered personal finance startup Meniga has raised a €7.5 million funding round led by Nordic venture capital investor Industrifonden.

Meniga, founded in Iceland in 2009, helps banks in 18 markets, including Santander, Intesa, ING Direct, Commerzbank and mBank, make sense of their customers' data to offer more compelling online and mobile banking products.

Having pioneered white-label Personal Finance Management (PFM) in 2009, Meniga has since expanded its product offering to include data-driven card-linked offers, personalisation and other user-centric services.

The firm says funding will be used for continued investment in Meniga’s R&D activities, as well as for strengthening the sales teams.

Industrifonden’s investor Sofia Ericsson Holm will join Meniga’s board effective immediately. Other participants in the round include current investors Velocity Capital, Frumtak Ventures and Kjolfesta.

Meniga has now raised a total of €21 million since inception.

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