Oslo-based fintech Neonomics has secured $4 million in new funding from existing shareholders to support its next phase of growth. This funding comes after a strategic refocus that reduced its operating cost base by nearly 50%, enhancing the company’s ability to scale its services effectively in the competitive open finance sector.
The funds will be used to further expand the company's operations in open banking payments and develop higher-value financial data services. Neonomics, licensed by the Norwegian Financial Supervisory Authority, aims to strengthen its financial data access and processing capabilities to meet increasing demand from businesses across Europe.
Following this funding round, Neonomics is strategically positioned to capitalize on new growth opportunities and continue to improve its service offerings in financial data intelligence.