back Back

wamo started operations in Europe expecting 10,000 customers in 2021

By Joy Dumasia

July 20, 2021

  • Europe
  • Wamo
Share

Digital financial institution wamo has started operations in Europe, expecting to attract 10,000 customers before the end of 2021. wamo, a digitally native FinTech aimed at small and medium-sized companies, is incorporated in the United Kingdom and has headquarters in London and Malta.

This FinTech uses smart-tech to streamline every aspect of day-to-day financial management processes, making it possible for businesses and consumers to do it all from one app. The company is committed to improving the security of transactions constantly and has mechanisms to safeguard customers’ money through a key partnership agreement with Railsbank.

Last month, wamo raised a one million euros investment from a group of angel investors, bringing the total amount raised to over 1.9 million and securing its expansion plan in Europe.

Fast, global, agile and fully digital, wamo hopes to become the solution of choice for over 10,000 European SMEs and retail clients looking for convenient, efficient solutions to their everyday financial management needs.

SMEs’ influence on the economy is rapidly growing in Malta and Europe. An increasing number of SMEs and the emergence of their unique needs are creating a new market and challenge for financial technology companies. This is because micro and small enterprises are currently underserved, with banks generally assuming an ambivalent stance towards them. In the meantime – hugely accelerated by the behavioural changes of the pandemic – online transactions have sharply increased while PoS (point-of-sale) transactions have shifted markedly towards contactless.

Yanki Onen, CEO and founder of the company, said: “The future of financial services will be impacted deeply by the emergence of embedded finance: finance that promises to be more internet-like, more interconnected and more customizable, with novel components that can be effortlessly inserted into individual businesses in different sectors.”

Previous Article

July 20, 2021

Trov signs partnership with UK insurer Hamilton Fraser

Read More
Next Article

July 20, 2021

FinecoBank adds funds from International Asset Management

Read More






IBSi Daily News Analysis

UAE, money transfer

June 14, 2024

Europe

Digital remittances surge as key lifeline amid global economic challenges, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 13, 2024

Flexys partners with Acquired.com for debt collection

Read More

June 12, 2024

Ozone API & Tuum team to accelerate open banking worldwide

Read More

June 05, 2024

emerchantpay & TrueLayer partner for payments by bank transfer

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023