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Bank customers join €8.5m funding round in Meniga

Bank customers join €8.5m funding round in Meniga

Digital banking vendor Meniga has closed an €8.5m funding round led by customers Groupe BPCE, and including Portugal’s Grupo Crédito Agrícola and UniCredit.

Other participants in the round include current institutional investors Velocity Capital, Industrifonden & Frumtak Ventures.

Meniga’s portfolio of products includes includes data aggregation technologies, personal and business finance management solutions, cashback rewards and transaction-based carbon insights.

The firm says the funding will be used for continued investment in R&D, as well as for strengthening sales and service.

Crédito Agrícola and BPCE are new investors in Meniga, while UniCredit first took an equity stake in the company in 2018.

Other bank investors from previous rounds include Swedbank and Islandsbanki.

Georg Ludviksson, CEO and co-founder of Meniga, says: "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.”

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