Meniga secures €3 million from Bank of Iceland

Meniga, an Icelandic company with offices in Sweden and United Kingdom and providing digital banking solutions, announced at its Fin42 customer conference a €3 million ($3.4M) investment from Íslandsbanki (Bank of Iceland).

The money will be used to enhance product research and development.

Íslandsbanki is the third bank to have invested in Meniga in 2018, following Swedbank´s investment in April and the strategic partnership announced with UniCredit in June.

The company has raised more than $30M in venture investment since its founding.

Meniga, founded in 2009 and led by co-founder and CEO Georg Ludviksson, developed a digital banking platform that helps banks understand and personalize their customers' data in order to offer more compelling online and mobile banking products.

Íslandsbanki and Meniga have worked closely together since launching the first Personal Finance Mangement solution in Europe in 2009. In 2017 they partnered to deploy a Meniga’s personalised reward program which provides the banks customers with cashback offers tailored to their individual spending profile.