Described primarily as a “strategic investment,” the round is led by Groupe BPCE, the second-largest banking group in France, alongside Portugal’s Grupo Crédito Agrícola and long-standing strategic partner UniCredit. All three are customers of Meniga.
The funding will be used for continued investment in Meniga’s R&D activities, as well as to strengthen the fintech’s sales and service teams to meet what it says is growing demand. Other participants in the round include current institutional investors Velocity Capital, Industrifonden, and Frumtak Ventures.
“We are very pleased to welcome Groupe BPCE and Crédito Agrícola to our growing group of strategic investors,” says Georg Ludviksson, CEO and co-founder of Meniga, in a statement. “Partnering closely with our customers is a key part of our strategy to be the preferred digital innovation partner to our clients. An equity relationship is an excellent way to strengthen such partnerships”.
Meniga’s digital banking platform helps banks and fintechs use personal finance data to innovate in their online and mobile offerings. Its various products include a software layer that bridges the gap between a bank’s legacy tech infrastructure and a modern API, making it easier to build consumer-friendly digital banking experiences.
Meniga‘s product suite spans data aggregation technologies, personal and business finance management solutions, cashback rewards and transaction-based carbon insights.
The company’s tech has also been designed to support and benefit from Open Banking, and helped by this, its products and services are already used by more than 90 million banking customers across 30 countries.
This saw it open new office locations in Barcelona and Singapore in 2019, adding to its existing presence in London, where the company is headquartered, and Reykjavi, where much of its R&D is located, alongside offices in Stockholm, Helsinki and Warsaw.
Meanwhile, lead investor Groupe BPCE first partnered with Meniga back in 2018. Cue statement from Groupe BPCE’s Yves Tyrode, chief digital and data officer, and member of the management board of Groupe BPCE: “Our partnership with Meniga has been extremely positive to date. Together, we have laid the groundwork for continued digital innovation at Groupe BPCE to better serve our customers in a very dynamic banking market. We look forward to continue transforming our digital customer experience and contribute to building the future of digital banking together with Meniga”.
French startup Contentsquare, a global leader in experience analytics works with the mission to empower brands to create better experiences and analyses customer behaviour via billions of anonymous app, mobile, and web interactions. Now, Contentsquare has secured $ 190 million (nearly €174 million) Series D funding led by BlackRock’s Private Equity Partners team.
This takes the overall funding raised by the company to $ 310 million (nearly €280 million) and the investor joins the existing investors such as Bpifrance, Canaan, Eurazeo Growth, Highland Europe, GPE Hermes, KKR, and H14 that also participated in the recent investment round.
Plans to expand internationally
Contentsquare will use the fresh capital to continue to invest heavily in innovation. This includes predictive and AI-based analytics. Also, the company will use the investment to expand its business across Europe, Asia, US, and the Middle East. Contentsquare already has eight offices in Paris, Munich, London, New York, San Francisco, Tel Aviv, Tokyo and Singapore.
“This investment during these uncertain times is a proof of the fantastic job our teams have done,” said Jonathan Cherki, Founder and CEO, Contentsquare. “It validates the strength of our vision for the next 5 years and extends our global leadership in experience analytics at a time when these capabilities are critical to all businesses. We have the ambition to accelerate the world’s digital transformation, by unlocking a full understanding of online behaviours.”
“Already a fast-growing market, experience analytics is now a must-have for businesses,” said Nathalie von Niederhaeusern from BlackRock, who is joining Contentsquare’s Board of Directors. “Contentsquare has unique assets: strong behavioural data and AI algorithms, deep understanding of digital consumers, a large database of benchmarks, a great leadership team and R&D depth. With their client roster, they are defining the experience analytics market globally.”
What does Contentsquare do?
Founded in 2012 by Jonathan Cherki, Contentsquare adheres to data privacy laws including California CCPA and EU GDPR. It transforms knowledge into intelligent recommendations that will help increase engagements, revenue, and growth. It integrates a broad set of data including UX, content, product, acquisition channel, pricing, and technical performance. And, this French company provides more accurate insights as well as AI-powered recommendations for improved digital results.
This platform is trusted by over 700 enterprise customers including Global Fortune 100 and industry powerhouses such as American Express, Best Buy, Dell, Ikea, LVMH, T-Mobile, Salesforce, Sephora and Toyota. It has built a strong ecosystem that is integrated with numerous tech vendors and has established strategic partnerships with digital marketing solutions providers and consultants across the world.
The platform analyses over 10 trillion consumer interactions including $ 1.4B of e-commerce sales per day. Furthermore, Contentsquare created the COVID-19 eCommerce Impact Data Hub providing tracking and analysis of the pandemic on digital consumer behaviour across industries and geographies.
“Our clients and partners will benefit from the acceleration of our innovation, both organically with important R&D recruitments and through acquisitions,” added Jonathan Cherki. “We will also invest in sales and marketing in key geographies to fuel our rapid market expansion.”
Main image picture credits: Contentsquare
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