In a groundbreaking development for the fintech sector, Estonian startup Mifundo has successfully secured €2.5 million in funding from the European Innovation Council (EIC) Accelerator program.
This funding, coupled with additional investment, marks Mifundo as the first fintech company to receive full backing from the EIC Accelerator, joining the ranks of recent recipients Onego Bio and Dronamics.
Founded with a mission to revolutionize cross-border finance, Mifundo serves as a platform connecting individuals with banking services across different countries, effectively eliminating geographical barriers in financial transactions.
The startup’s innovative approach empowers users to choose banking options that best suit their needs, irrespective of their location.
Mifundo’s technology facilitates easy cross-border lending, streamlining processes that traditionally posed challenges for consumers seeking financial services beyond their own national borders.
By creating a unified credit market across the European Union, Mifundo aims to enhance accessibility and choice for customers while fostering greater competition among financial institutions.
The investment from the EIC Accelerator program underscores confidence in Mifundo’s innovative approach and its potential to disrupt the financial services landscape.
With the newly secured funding, Mifundo plans to expand its operations, enhance its technology infrastructure, and scale its user base across Europe.
As Mifundo continues to pave the way for borderless banking solutions, its achievement not only positions Estonia at the forefront of fintech innovation but also sets a precedent for future advancements in the industry.
