Meniga, a London, UK-based provider of Personal Finance Management solutions, raised €15m in Series D funding.
The round included Groupe BPCE, Crédito Agrícola, Omega ehf, as well as several existing shareholders.
The company, which brought total funding to date to €55, intends to use the funds to clear existing debt, invest in the roll-out of its new strategy, focusing on further developing its core capabilities around Data Enrichment and Hyper Personalised Insights for the financial services sector, and enabling Payments capabilities for banks in the Open Banking and Open Finance ecosystem.
Led by CEO Raj Soni, Meniga provides products that enable financial institutions to improve their online and mobile digital environment. The company has developed a framework for next-generation digital banking around advanced data consolidation and enrichment, meaningful customer engagement and new revenue opportunities. Meniga’s portfolio of products includes Personal Finance Management, carbon insight services, automated real-time notifications, predictive analytics and personalised engagement technologies, targeted rewards and consumer data analytics. The company serves over 100 million banking customers across 30 countries in Europe, North America, the Middle East and Asia. Offices are in London, Reykjavik, Stockholm, Warsaw with plans for ongoing expansion into new markets globally. Customers include some of the most influential banks of these regions, such as UOB, UniCredit, Groupe BPCE, Crédito Agrícola, Swedbank, and Commercial Bank of Dubai.
The company’s new strategy, devised following the arrival of Soni in summer of 2023, will see its product portfolio simplified, diversification into verticals beyond banks, targeting new customers in emerging markets across MEA, LatAm, Asia and creation of new operational hubs to drive growth and post-launch customer support.
FinSMEs
14/12/2023