March 05, 2024
Copenhagen-based Meo, formerly known as NewBanking, has raised €1.67 million to expand its anti-money-laundering platform. The funding round included participation from existing investors, such as Scale Capital and EIFO Ventures, along with a €1 million loan from Swedish growth and lending platform Gilion. This capital injection will support Meo’s expansion across Europe, targeting new clients in the venture capital and legal sectors.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Number of Investors | Category |
|---|---|---|---|---|---|---|---|
Meo | Mar 5, 2024 | €1.67M | Venture Round | $6.6M | Scale Capital | 10 | FinTech |
Meo offers an end-to-end platform for risk assessment and continuous due diligence. The platform aids compliance teams in regulated businesses by verifying customers and mitigating financial, reputational, and legal risks. Since its launch in 2015, Meo has onboarded hundreds of companies, providing seamless onboarding, risk assessment, and due diligence services.
The recent funding will enable Meo to accelerate growth in new markets, enhance sales efforts, and expand its customer base. The platform integrates verification, enrichment APIs, and trusted communication channels through partners like CreditSafe, Danish e-Boks, Thales Group, and Swedish BankID.
EIFO’s Senior Portfolio Manager highlighted Meo’s important role in addressing regulatory challenges and the potential for future financial collaborations. With the additional capital, Meo plans to scale its operations and strengthen its market presence in Europe.
About Meo:
Meo, an Identity Verification platform, is a Danish company founded in 2015 providing a user identity platform for verifying identities securely across businesses. The platform addresses regulatory challenges related to the European Anti-Money Laundering Directive and the General Data Protection Regulation.
Website: https://www.meo.io/
About Investor
Scale Capital is a venture capital firm that invests in growth-stage technology companies, supporting their expansion and development.
Location: Denmark
Website: https://www.scalecapital.com
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