Meniga, a provider of digital banking solutions for some of the world’s largest financial institutions, has closed a €10 million strategic investment round.
Velocity Capital Fintech Ventures, and Frumtak Ventures led the round. Other participants included Industrifonden, the UK-backed Future Fund, and existing customers UniCredit, Swedbank, Groupe BPCE, and Íslandsbanki.
The funding will be used for continued investment in Meniga’s research and development activities, and in particular the development of innovative green banking products.
In addition, the new injection of investment will help strengthen Meniga’s sales and service teams to meet growing demand and changing dynamics in the global digital banking market.
Meniga’s solutions are designed to help banks leverage data to offer more personalised and engaging services, and increase revenue through their digital channels.
One particular innovation that is currently garnering attention is Meniga’s new green banking solution, Carbon Insight, which is allowing banks to empower their customers to fight climate change.
Georg Ludviksson, chief executive officer and co-founder of Meniga, comments: ”We are extremely pleased with the continued backing from our investors and strategic customers. The new capital will be instrumental in helping us accelerate our expansion into sustainable finance management.”
”We are already working with banks across the world helping them accelerate their green-banking strategies with our Carbon Insight solution. Our Carbon Insight solution is going live with banks in four different countries during 1H 2021 and the demand is accelerating.”
Meniga has also partnered with Visa to accelerate its expansion within the Asia Pacific region. As part of the agreement, the fintech will join the Visa Ready Program as a certified fintech enablement partner.
The new certification means that Meniga’s solutions meet Visa’s global standards around security and functionality, providing further credibility to the fintech’s state-of-the-art digital banking capabilities within Asia Pacific markets.
Meniga will also be listed on the Visa Partner Portal, to help facilitate more opportunities in the region.