Meniga, a provider of digital banking solutions, announced that it has closed a €10 million strategic investment round.

The round was led by institutional investors, Velocity Capital Fintech Ventures, and Frumtak Ventures.

Other participants in the round include Industrifonden, the UK Government’s Future Fund, and existing customers UniCredit, Swedbank, Groupe BPCE, and Íslandsbanki.

Meniga said that the funding will be used for continued investment in Meniga’s R&D activities, and in particular the development of innovative green banking products.

Additionally, the new injection of investment will help strengthen Meniga’s sales and service teams.

In 2020, Meniga said that it had signed several new partnerships with key financial players and launched a total of 18 digital banking solutions across 17 countries.

Meniga’s physical presences include its headquarters in London, Reykjavik, Stockholm, Warsaw, Barcelona, Singapore and New York.

Georg Ludviksson, CEO and Co-Founder of Meniga said,

“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 4 different countries during 1H 2021 and the demand is accelerating.”

Featured image: Meniga team