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Finovate Global Scandinavia: Funding Innovations in Open Banking and Personal Finance

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Finovate Global Scandinavia: Funding Innovations in Open Banking and Personal Finance

This week’s edition of Finovate Global features recent fintech news from Denmark, Norway, and Sweden.

Open finance platform Neonomics has received an investment of $4 million. The funding comes from the Norwegian firm’s existing shareholders and follows a strategic transformation that reduced its operating cost base by nearly 50% while maintaining high service quality and existing customer base.

“We have fundamentally strengthened Neonomics, creating a more focused and efficient business with a clear direction for growth,” Neonomics CEO Alfonso Muñoz said. “The combination of a significantly improved cost structure, growing customer demand and continued shareholder support puts us in a strong position to execute on our strategy.”

Founded in 2017 and headquartered in Oslo, Neonomics offers a full-stack open finance platform. Via a single secure API, the company unifies Pay by Bank payments, enriched account data, and AI-ready financial intelligence and connects businesses to more than 3,500 banks across 30 European markets. In a statement, the company added that they are working to move further up the value chain in financial data by helping firms structure, enrich, and interpret that data to build better, more personalized products and experiences for customers.

“Providing access to financial data is only the starting point,” Muñoz said. “The real value lies in turning that data into intelligence that improves financial products, workflows, and decisions. We see significant potential here alongside the continued growth of our payments business.”

Swedish AI-native personal finance platform Matters has emerged from stealth with $5 million in pre-seed funding.



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