Norwegian open banking provider Neonomics secures €3.56 million after cutting operating costs by nearly half

Neonomics, the Oslo-based open finance platform, has raised €3.55 million ($4 million) from existing shareholders. The company did not say which investors took part. Its backers include Newmark Capital, Bankify, FirstMark Capital and TTU Private Equity, and it says it has raised over €44.39 million ($50 million) in private investment to date.

The round follows a leadership change. Alfonso Muñoz joined as CFO in 2025 and became Interim CEO in February 2026. He is credited with strengthening financial governance and operational discipline, which led to an almost 50% cut in operating costs. Neonomics also reports more than 60% growth in new customer acquisition since the start of the year, across both its payments and financial data segments. Muñoz says the business is now more focused and efficient, with a better cost structure, rising demand and continued shareholder support.

Founded in 2017, Neonomics offers Pay by Bank payments, enriched account data and AI-ready financial intelligence in one infrastructure layer. Its PSD2 network connects businesses to more than 3,500 European banks and reaches over 20 million Nordic consumers. It is licensed by the Norwegian Financial Supervisory Authority as a Payment Institution, Payment Initiation Service Provider and Account Information Service Provider, with authorisation valid across the EU. Its products are sold under the Nello brand: Nello Data for real-time account verification and transaction access, Nello AI for turning transaction data into financial intelligence for credit and income decisions, and Nello Pay for account-to-account payments positioned as a faster, cheaper alternative to card rails.

The new capital will go toward growth in consumer-facing financial services, personal finance, accounting, ERP, and companies building products and workflows around financial data. As API-level access to bank data becomes more commoditised in Europe, Neonomics sees its opportunity in structuring, enriching and interpreting that data. Muñoz says access is only the starting point and the real value lies in turning data into intelligence, alongside continued growth in payments.