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FinTech Meniga secures €8.5 mn to boost R&D investments

meniga

Georg Ludviksson, CEO and Co-founder of Meniga

UK-based digital banking technology provider, Meniga has secured €8.5 million in a strategic investment round led by Groupe BPCE, Groupo Crédito Agrícola and UniCredit. The series also saw the participation of institutional investors, including investors Velocity Capital, Industrifonden & Frumtak Ventures. The company aims to utilise the funds for improving its R&D activities along with its sales and service teams for catering to the rising demands.

“We are very pleased to welcome Groupe BPCE and Crédito Agrícola to our growing group of strategic investors. 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”, said Georg Ludviksson, CEO and Co-founder of Meniga. “We appreciate the continued vote of confidence and growing business we have with our impressive global client base.”

Meniga states that it has noticed a rise in the demand for its product and services owing to the Open Banking movement. It has, thus, opened new office locations in Barcelona and Singapore apart from its London base and the branches in Reykjavik, Stockholm, Helsinki and Warsaw.

“Our partnership with Meniga has been extremely positive to date. Together, we have laid the groundwork for continued digital innovation at Groupe BPCE to better serve our customers in a very dynamic banking market. We look forward to continue transforming our digital customer experience and contribute to building the future of digital banking together with Meniga “, said Yves Tyrode, Chief Digital & Data Officer, member of the Management Board of Groupe BPCE.

Recently, Meniga entered into a partnership with banking and financial services company, UniCredit with an intent to launch an enhanced version of Smart Banking app in the Czech Republic.

“We believe in fostering long-term relationships with the best fintechs in the market in order to continue developing innovative products and services with tangible benefits for our clients. The partnership with Meniga has allowed us to offer a simple, tailored and very user-friendly digital banking experience to our customers and we look forward to continuing to work together to support our clients’ digital banking needs with innovative solutions “, said Olivier Khayat, Co-CEO Commercial Banking Western Europe at UniCredit.

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