Meniga announced closing in a €8.5 million strategic investment round led by Groupe BPCE, Grupo Crédito Agricola and UnCredit.

Iceland Portugal Sweden Investments 28 May 2020
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Meniga, an Icelandic company with offices in Sweden and United Kingdom and providing digital banking solutions, announced that it closed a €8.5 million ($9.4M) capital investment

The round was led by a group of strategic investors including Groupe BPCE, Grupo Crédito Agricola and UniCredit. They were joined by existing instiutional investors Velocity Capital, Industrifonden and Frumtak Ventures.

The proceeds will be used for continued investment in its R&D activities, as well as for strengthening the sale & service teams.

Meniga, founded in 2009 and led by co-founder and CEO Georg Ludviksson, developed a banking platform aiming to help banks and fintechs use personal finance data via online and mobile channels. Its product offering includes, data aggregation, personal and business finance management, cashback rewards and transaction-based carbon insights.

Since founding, Meniga raised about $35 million in capital investment, prior to this deal.