Neonomics Successfully Raises €3.56 Million Following Significant Reduction in Operating Costs

Neonomics, a leading full-stack open finance platform based in Norway, recently announced a successful funding round of €3.55 million ($4 million) from existing shareholders. The company, which offers financial data, intelligence, verification, and payment infrastructure to businesses across Europe, has garnered significant support from investors such as Newmark Capital, Bankify, FirstMark Capital, and TTU Private Equity. To date, Neonomics has raised over €44.39 million ($50 million) in private investments.

CEO Alfonso Muñoz expressed confidence in the company’s growth strategy, highlighting a more focused and efficient business model. He emphasized the combination of improved cost structure, increasing customer demand, and ongoing shareholder support as key factors driving Neonomics forward.

Established in Oslo in 2017, Neonomics stands out as an open finance platform that integrates Pay by Bank payments, enriched account data, and AI-ready financial intelligence into a single infrastructure layer for businesses across Europe. With a PSD2 network connecting over 3,500 banks in Europe, particularly in the Nordics, the company reaches more than 20 million Nordic consumers. Neonomics holds licenses from the Norwegian Financial Supervisory Authority as a Payment Institution, Payment Initiation Service Provider, and Account Information Service Provider, enabling its operations across the EU.

The company’s product suite, branded as Nello, focuses on three core areas: Nello Data for real-time account verification and transaction access, Nello AI for transforming raw transaction data into financial intelligence, and Nello Pay for facilitating account-to-account payments as a faster and more cost-effective alternative to traditional card-based payment systems.

Following a recent leadership transition, Muñoz assumed the role of Interim CEO in February 2026 after joining Neonomics as CFO in 2025. His efforts have led to a notable 50% reduction in operating costs, demonstrating a commitment to financial governance and operational efficiency. Neonomics has reported a 60% increase in new customer acquisitions since the beginning of the year, signaling growth in both payments and financial data segments.

The fresh capital infusion will support the company’s expansion efforts in consumer-facing financial services, personal finance, accounting, ERP, and other areas centered around financial data. Neonomics recognizes the evolving landscape of API-level access to bank data in Europe and sees an opportunity to provide value beyond payments by structuring, enriching, and interpreting data for clients.

Muñoz emphasized the importance of turning financial data into actionable intelligence to enhance financial products, workflows, and decision-making processes. Neonomics is poised to capitalize on this potential alongside the continued growth of its payments business.

With a vision to evolve beyond payments and explore new avenues for data utilization, Neonomics is well-positioned to drive innovation in the financial services sector. The company’s commitment to providing value-added services and leveraging data intelligence underscores its dedication to meeting the evolving needs of businesses and consumers in Europe.