The Danish SaaS company is rebranding to Meo, securing new capital for European expansion, and targeting customers in additional industries

In 2017, The Copenhagen Fintech lab resident Meo (formerly Newbanking) entered the Fintech scene with a vision to seamlessly verify businesses and individuals, eliminating the need for physical documents. They aim to securely digitize user identities for a future of efficient global exchange.

In the face of a challenging funding landscape, Meo impressively defines the odds and secures DKK 12 million, primarily supported by existing investors. The funds will be allocated to strengthen the sales organization in Meo, which ultimately aims to elevate the level of customers the company deals with.

Christian Visti Larsen , CEO and co-founder of Meo, elaborates further on the company’s objective to progress towards a higher level of customers to ITWatch : ??? "If we can achieve that, we significantly expand our market, and that's what we want to invest in. We see that larger clients derive significant value from using a platform like ours. This means their investment in this type of centralization yields a very high return compared to developing internal solutions themselves."

Christian Visti Larsen further explains that the rebranding to Meo aimed to establish a more focused and easily understandable company. With the former name, Newbanking, the company frequently faced questions about whether they were a new bank or merely a platform for banks.

??? "So, we chose Meo, which means 'mine' or 'my' in Latin, and it fits quite well with the narrative we work with—meaning you and your data."

With the rebranding and the newly secured capital, Meo is ready to take the next step. Besides elevating the level of customers, the company also strives for a European expansion.?

"We are further ahead than other countries. And that means we can capture some of these first-mover customers in a market that wants to achieve something and take the lead," ??? says Christian Visti Larsen.