Meniga Raises €7.5M Equity Round to Advance Personalisation in Digital Banking

Meniga Raises €7.5M Equity Round to Advance Personalisation in Digital Banking

New Investment Enables Further Expansion into Data Driven Personal Finance & Targeted Marketing products   Meniga, a leading provider of digital banking technology for the world’s largest banks, raises a €7.5M funding round led by Nordic venture capital investor Industrifonden. Other participants in the round include current investors Velocity Capital, Frumtak Ventures and Kjolfesta. Meniga’s digital banking platform helps banks use personal finance data to enrich their online and mobile customer experiences. Having pioneered white-label Personal Finance Management (PFM) in Europe in 2009, Meniga has since expanded its product offering to include data-driven card-linked offers, personalisation and other user-centric services designed to make online and mobile banking more engaging and useful. The proceeds will be used for continued investment in Meniga’s R&D activities, as well as for strengthening the sales teams to meet growing demand. Using Meniga’s technology, banks can quickly introduce compelling new services into their digital banks, such as Meniga’s award-winning Facebook-like Activity Feed or the new Fitbit-inspired Challenges module. It also sets them up to comply with upcoming regulation such as PSD2. “Banks are facing up to the reality that their future competitors will not just be traditional banks – but also include fintech startups, new challenger banks and technology giants like Apple, Facebook and Amazon. To compete effectively they must innovate faster and become better at using their data,” said Georg Ludviksson, CEO Meniga. “We have never seen higher demand for our solutions and innovation capability. The funding allows us to accelerate growth and work with more banks to help them transform the way they engage with their customers through digital channels. Industrifonden is a...
Frumtak Ventures hires Marketing executive Paula Gould

Frumtak Ventures hires Marketing executive Paula Gould

Paula Gould will spearhead international brand and marketing initiatives to heighten profile of Frumtak’s portfolio. Frumtak Ventures today announced that it has hired Marketing Executive Paula Gould to spearhead international brand and marketing initiatives to help heighten the profile of its portfolio of investments. Frumtak Ventures invests in post-seed early stage growth companies across a number of industries. Frumtak is strengthening its relationships and brand identity internationally to bring greater awareness to its portfolio of Icelandic companies. Paula Gould has extensive experience working with startup companies in the US, Israel and Iceland on brand, business development, marketing and public relations strategies internationally. Since moving to Iceland in 2011, she has worked with and advised several Icelandic startups whether from the Board of Directors, CEO or CMO level. Paula also actively volunteers as a mentor to entrepreneurs in the Icelandic startup community. “Paula’s experience working with startups on brand and market growth as well as her passion and advocacy for the Icelandic innovation and startup community fit well with our objective to create a role on our team that brings international awareness to our portfolio of companies,” said Eggert Claesson, Managing Partner, Frumtak Ventures. “I’m thrilled to be joining Frumtak’s team and looking forward to working with their exceptional portfolio companies to help deepen their international network and strategize growth opportunities,” said Paula Gould. About Frumtak Ventures Frumtak Ventures is an Icelandic venture company currently managing two investment funds, Frumtak and Frumtak II. Frumtak Ventures invests in innovative companies in Iceland that are post-seed and well positioned for growth. Frumtak Ventures prides itself on being an ally investment partner to its portfolio companies. Curent...
Tulipop have announced a $2m financing round

Tulipop have announced a $2m financing round

Tulipop, the makers of Tulipop world and character branded products have announced a $2m financing round by Frumtak Ventures and a previous sharholder. This funding will support further business growth, both product development and rapid expansion into foreign markets. Tulipop recently signed with US toy manufacturer Toynami to produce Tulipop toys that will be released later this year. Also the plan is to release children’s books, cartoons and Tulipop games. Tulipop currently designs and manufactures a broad line of gift items for children of all ages and has received international design awards, including the British Smallish Design Awards, last year. The Tulipop product line is sold in 120 retail stores in 14 countries, as well as being for sale in a number of stores in Iceland. For more information visit http://www.tulipop.is/...