Observed Signal · Oct 16, 2026 · Funding · Source: EU-Startups (European Venture) · Impact: 1/5 · Sentiment: Positive
Neonomics secures €3.56M after cutting costs nearly half
Norwegian open banking provider Neonomics has raised €3.55 million ($4 million) from existing shareholders. The company cut operating costs by nearly 50% under the leadership of CEO Alfonso Muñoz, who joined as CFO in 2025 and became interim CEO in February 2026. Neonomics provides a full-stack open finance platform including payment initiation, account data, and AI-ready financial intelligence. Its PSD2 network connects to over 3,500 banks in Europe, reaching more than 20 million Nordic consumers. The company has seen over 60% growth in new customer acquisition this year. The new funds will support expansion into consumer-facing financial services, personal finance, accounting, ERP, and data-driven products. Existing investors include Newmark Capital, Bankify, FirstMark Capital, and TTU Private Equity.
Relevant to AdTech/MarTech industry as a fintech funding event, but not directly related to advertising technology.
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Key Takeaways & Evidence Grounding
- Neonomics raised €3.55 million ($4 million) from existing shareholders.
- Operating costs were reduced by almost 50%.
- New customer acquisition grew over 60% since start of year.
- PSD2 network connects to over 3,500 banks across Europe.
- Products marketed under Nello brand: Data, AI, Pay.
Connected Companies & Entities
1 Entity mapped“Its investors include Newmark Capital, Bankify, FirstMark Capital, and TTU Private Equity.”
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Seed Capital closes €130M Fund V for Nordic startups
Copenhagen-based seed investor Seed Capital announced the closing of its fifth fund at €130 million, targeting 15-17 companies with first checks of €3-6 million in FinTech, cybersecurity, resilience, and AI-driven B2B sectors. The fund will expand beyond Denmark into the Nordics, with a strategic focus on Sweden. The firm also announced leadership changes: Christian Brøndum, former CEO of Planday, steps in as Managing Partner, and Geeta Schmidt, former CEO and co-founder of Humio, joins as General Partner. Seed Capital has already made initial investments from Fund V in Fortiv, Moxso, Repodo, and Oplane. The firm plans to evaluate opening a Swedish office to strengthen its close-to-founders approach. Its portfolio includes notable companies like Trustpilot, Flatpay, and Lunar.
FintechOS Raises $28M in Equity and Debt
FintechOS, a Romania-founded B2B software firm providing AI and software services for banks and insurance companies, has raised $28 million in a combination of equity and debt funding from its existing investors. The equity portion came from investors including Bek Ventures, IFC, Cipio Partners, and Molten Ventures, while a debt facility was provided by Santander Corporate Investment Banking. The company, headquartered in London with offices in Bucharest and New York, plans to use the funds to expand in the US, win more European clients, and scale its AI technology. FintechOS has raised over $150 million in total to date and achieved profitability in the first half of 2026, driven by growth in the US market.
Nominal Hits $1B Valuation, Expands into New Markets
Nominal, a 3.5-year-old Los Angeles-based startup that provides software for hardware engineers to test designs, announced an $80M Series B extension at a $1 billion valuation led by Founders Fund on March 5, 2026. The extension follows a $75M Series B led by Sequoia in September. Nominal began serving the defense sector and says it secured four of the five largest defense contractors as customers in the past 10 months; Anduril is cited as a marquee customer. CEO and co-founder Cameron McCord, a former U.S. Navy submarine officer and Anduril alumnus, said the deal was led by Founders Fund partner Trae Stephens. Other participants in the financing include Sequoia, General Catalyst, Lux Capital, Red Glass, and Lightspeed. Nominal plans to expand into industrial markets such as automotive and robotics.
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