Meniga takes $8.2m for white-label personal finance

Meniga, an Icelandic startup offering white-label personal finance solutions, has raised €7.3m ($8.2m) in a new round of funding. The investment was co-led by existing backers Velocity, which is based in the Netherlands and Icelandic early-stage investor Frumtak Ventures.

The company’s white-label, personalised platform is used by some of the world’s biggest banks, including Santander, Intesa Sanpaolo, mBank and ING Direct. The company claims it reaches more than 35m digital banking users across 20 countries.

Beyond digital banking services Meniga offers personalization and data-driven marketing solutions for retail banks and merchants. The company says it also enables PSD2 compliance by aggregating and enriching transaction data and optimising for single-user queries.

The firm says the funding will be used to expand its services.

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