Groupe BPCE leads €8.5m round for Meniga

The round also saw participation from Grupo Crédito Agrícola and UniCredit. Other participants include existing institutional investors Velocity Capital, Industrifonden and Frumtak Ventures.

The fresh capital will be used for continued investment in Meniga's research and development, as well as to strengthen the sales and service teams.

Previous funding
In April 2010, Frumtak – through its Frumtak I fund – provided a seed funding round of ISK 90m (€510,000) for the company.

In July 2013, Kjolfesta led a $6.5m series-A funding round, which also included Frumtak.

Frumtak and Velocity Capital structured a €7.3m round of growth capital funding in August 2016.

In April 2017, Nordic venture capital firm Industrifonden led a €7.5m funding round, alongside Frumtak and Velocity.

Company
Founded in 2009 in Reykjavik, Meniga is a London-based fintech company focusing on digital banking application development. Meniga's portfolio of products includes personal finance management, automated real-time notifications, predictive analytics and personalised engagement technologies.

The company opened new offices in Barcelona and Singapore in 2019, adding to its existing presence in London, Reykjavik, Stockholm, Helsinki and Warsaw.

People
Meniga – Georg Ludviksson (CEO, co-founder).
Groupe BPCE – Yves Tyrode (chief digital & data officer, member of the management board).
Crédito Agrícola Group – Licinio Pina (CEO).
UniCredit – Olivier Khayat (co-CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Industrifonden
• UniCredit
• Credit Agricole Corporate & Investment Bank
• Venture