This week digital banking solutions provider Meniga announced an $8.2 million (€7.3 million) round of funding it had secured earlier this year. The round was led by existing investors Velocity Capital and Frumtak Ventures, based in the Netherlands and Iceland, respectively.
The U.K.-based company has assigned the funds to bolster its personalized digital banking platform, an offering already in use by Santander, Intesa Sanpaolo, mBank, and ING Direct. Meniga’s platform, which reaches 35 million end users in 20 countries, does double-duty. It not only offers PFM capabilities, but also helps banks with PSD2 compliance by aggregating consumers’ spending data. As the company’s CEO and cofounder Georg Ludviksson said, “Now, in addition to supporting banks in helping their customers better understand and manage their finances, we can further help banks engage with merchants and be compliant with upcoming regulations, such as PSD2.”
Willem Willemstein, Velocity Capital chairman and CEO, has joined Meniga’s board of directors.
Founded in 2009 and originally based in Reykjavík, Iceland, Meniga debuted its Personalization Platform at FinovateEurope 2016. The new platform leverages PFM data to facilitate timely, targeted, and relevant communication between a bank and their client. The tool helps banks segment customers based on spending and behavioral factors to more efficiently and effectively deliver campaigns.
(Photo credit: http://www.fintech.nl/)
A look at the companies demoing live to 1,500 fintech professionals. 
Presenters
Einar Thor Gustafsson, Vice President of Product Management
