← State of Embedded Finance 2026

Murena

Can a European privacy-first hardware + cloud company become the credible non-Big-Tech consumer alternative?

HQParis, France
FoundersGaël Duval
Latest roundEquity Crowdfunding
IndustryE-commerce / DTC brand
The story

Murena (operated by Murena Retail SAS in France and Murena Inc. in the US) is a privacy-first consumer technology company selling deGoogled smartphones, the /e/OS operating system, the Nextcloud-based Murena Workspace, and a US eSIM mobile plan. The company is a hardware + SaaS DTC business with subscription billing; embedded finance is limited to standard PSP checkout for orders and subscriptions, not embedded lending, banking, or card issuing.

Last 12 months
Product timeline
0
Founded as e Foundation / Murena to build /e/OS, a deGoogled Android operating system· pivot
0
Launched Murena Workspace (Nextcloud-based privacy cloud) with paid storage subscriptions· banking
0
Launched Murena smartphones (refurbished and new) running /e/OS· pivot
0
Launched Murena Mobile (eSIM on T-Mobile network in the US)· pivot
The stack
Payments / PSP
StripePayPalBitPay
Crypto
BitPay
Accounting gap: none