Meniga Secures €15m in Funding for Financial Solutions Expansion
Meniga, a London-based provider of Personal Finance Management solutions, has successfully raised €15m in Series D funding. The funding round included Groupe BPCE, Crédito Agrícola, Omega ehf, as well as several existing shareholders. This brings Meniga's total funding to date to €55m. The company plans to utilize the funds to clear existing debt, invest in the roll-out of its new strategy, and further develop its core capabilities in Data Enrichment and Hyper Personalised Insights for the financial services sector. Additionally, Meniga aims to enable Payments capabilities for banks within the Open Banking and Open Finance ecosystem.
Meniga, led by CEO Raj Soni, offers products that help financial institutions enhance their online and mobile digital environment.
The company has built a framework for next-generation digital banking that focuses on advanced data consolidation and enrichment, meaningful customer engagement, and new revenue opportunities. Meniga's product portfolio includes Personal Finance Management, carbon insight services, real-time notifications, predictive analytics, personalized engagement technologies, targeted rewards, and consumer data analytics. With offices in London, Reykjavik, Stockholm, and Warsaw, Meniga serves over 100 million banking customers across Europe, North America, the Middle East, and Asia. It has established partnerships with influential banks such as UOB, UniCredit, Groupe BPCE, Crédito Agrícola, Swedbank, and Commercial Bank of Dubai.
Meniga's new strategy, implemented after Soni's arrival in the summer of 2023, involves simplifying its product portfolio, expanding into verticals beyond banks, targeting new customers in emerging markets across MEA, LatAm, and Asia, and establishing new operational hubs to drive growth and support customers post-launch. This strategic shift aims to position Meniga as a leader in the industry and capitalize on the growing demand for innovative financial solutions worldwide.
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