Fintech company Meniga just announced a €7.5m funding round led by Nordic investment fund Industrifonden. Previous investors – Velocity Capital, Frumtak Ventures and Kjölfesta – also participated in the round.
“Today’s banks are under pressure to innovate and improve their customer experiences online and yet they are beholden to legacy processes and legacy systems and are usually ill equipped to provide their customers with world class user experience in digital banking,” Meniga co-founder and CEO Georg Ludviksson tells me.
“Meniga has built a reputation as a strong innovation partner to banks and its software solutions help some of the world’s largest banks utilise their data to make their online and mobile banking more personalised and inspiring”.
Ludviksson’s coining of Meniga as an “innovation partner” to banks isn’t simply startup speak, nor is it bluster (the Meniga founder talks in soft, considered Icelandic tones). The company holds five-day onsite design sprints with its banking clients, and last year it conducted more than 80 user testing sessions in four countries — again, many of them in partnership with the banks.