Composite materials consisting of coupled magnetic and ferroelectric layers hold the promise for new emergent properties such as controlling magnetism with electric fields. Obviously, the interfacial coupling mechanism plays a crucial role and its understanding is the key for exploiting this material class for technological applications. This short review is focused on the magnonic‐based magnetoelectric coupling that forms at the interface of a metallic ferromagnet with a ferroelectric insulator. After analyzing the physics behind this coupling, the implication for the magnetic, transport, and optical properties of these composite materials is discussed. Furthermore, examples for the functionality of such interfaces are illustrated by the electric field controlled transport through ferroelectric/ferromagnetic tunnel junctions, the electrically and magnetically controlled optical properties, and the generation of electromagnon solitons for the use as reliable information carriers.