Iceland tech news

Optimistic innovators, stubborn frictions: what’s holding Iceland’s innovation system back?

Northstack's new survey of nearly 300 Icelandic founders and innovation leaders, conducted with Gallup and the Icelandic Technology Development Fund, finds optimism about innovation largely unchanged since 2019 despite more R&D spending and venture capital. Persistent frictions—hard-to-raise capital, weak banking services, and currency volatility—continue to hold back Iceland's innovation performance.

Meniga raises $16M Series D from Groupe BPCE, Crédito Agrícola and Omega

Tæknipúlsinn translation: Meniga fær 16 milljóna dala Series D fjármögnun frá Groupe BPCE, Crédito Agrícola og Omega

Icelandic fintech Meniga has raised a $16M Series D round backed by banking clients Groupe BPCE and Crédito Agrícola alongside Icelandic VC Omega. The funds will help clear existing debt and support Meniga's strategy shift toward data enrichment and hyper-personalised insights for financial institutions.

PayAnalytics acquired by beqom

Icelandic startup PayAnalytics has been acquired by Swiss compensation platform beqom, which called the deal an industry-disrupting move in pay equity technology. PayAnalytics' product will remain standalone while also becoming available through beqom, marking the first exit for investor Eyrir Vöxtur.

Nordic Secondary Fund invests $2.4M in DTE

Nordic Secondary Fund has invested $2.4M in DTE by purchasing shares from a select group of the company's early shareholders, marking the fund's first investment in Iceland. The deal follows DTE's recent $10M Series A2 round, which included Novelis, Metaplanet, and the European Innovation Council Fund.