Meniga, a UK-based digital banking solution, announced on Thursday it secured €8.5 million through its latest strategic investment round, which was led by French banking group Groups BPCE with participation from Grupo Crédito Agrícola, UniCredit, Velocity Capital, Industrifonden, and Frumtak Ventures.
Founded in 2009, Meniga claims it is the European market leader of white-label Personal Finance Management (PFM) and next-generation online banking solutions. The company currently serves 65 million digital banking users across 30 countries.
“Meniga’s award winning solution helps multiple retail banks across the world create mutually beneficial digital relationships with their customers by dramatically improving their online and mobile banking user experience through innovative solutions designed to get people to think about and engage with their finances.”
Speaking about the investment round, Georg Ludviksson, CEO and Co-Founder of Meniga, stated:
“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 and we appreciate the continued vote of confidence and growing business we have with our impressive global client base.”
“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 experienceand contribute to building the future of digital banking together with Meniga.”
The funding will be used for continued investment in Meniga’s R&D activities, as well as for strengthening the sales and service teams to meet growing demand.