Mifundo funding news – Estonian-based Mifundo Raises €2.5 Million in Grant Funding

There were around 1,000 applications for this programme, making it the most competitive in Europe. The EIC typically makes investments in deep tech fields including biotechnology, space technology, quantum computing, and medicine. On the other hand, a fintech startup has been selected for a full-scale investment for the first time in history.

Read also - Loci Orthopaedics funding news – Ireland-based Loci Orthopaedics Secures €12.8 Million in Series A Round Funding

With the increased capital, Mifundo intends to enhance the pan-European data model, add more nations to its platform, and broaden the scope of its data services across the EU.

Kaido Saar, CEO and Founder of Mifundo, stated, “This substantial funding is a powerful endorsement of our mission to transform the European financial sector. By enabling the free movement and utilisation of credit data across Europe, we are making it possible for consumers to access banking products in different countries seamlessly. We are proud to be among the select few from nearly a thousand innovative companies chosen for the highly competitive EIC Accelerator program. Mifundo will leverage this funding to accelerate our growth and innovation, playing a crucial role in reshaping the future of cross-border finance in Europe.”

The AI-powered platform, which makes credit profiles seamlessly transferable throughout the EU, is poised to completely transform the European financial scene. All EU residents now have better access to financial services and less financial inequality thanks to this innovation.

About Mifundo

Established in 2018 by Kaido Saar, the former CEO of Bigbank Group, Mifundo is developing the first cross-border data platform powered by artificial intelligence (AI) that will allow credit profiles to be portable across the European Union. The company wants to reduce financial inequality and improve access to financial services for all European residents by establishing a truly unified credit market within the EU.