Borderless banking is here! Meet europeone, FinTech Startup of the Week

Borderless banking is here! Meet europeone, FinTech Startup of the Week

08-Nov-2016 by Triin Linamagi

If you have ever struggled opening a bank account and sending money home to your family while living abroad, then europeone has a solution for you.
We are less than three weeks away from Startupbootcamp FinTech Demo Day and we are very proud to introduce you one of biggest and very dynamic team in our 2016 FinTech London Cohort.
europeone brings borderless banking to you – on your phone- in your pocket – wherever you are.
Meet Philipp, Richard, Anton, Martin and Liuba who discovered the gap in the market and decided to do something about this. Watch the video and read the interview with europeone team!

1. Tell us about europeone, where did you come up with the idea and what’s the gap in the market you are addressing?

Anton and I went to business school together here in London and noticed it was very difficult to open a bank account, much less paying utility bills or get money home to loved ones. Moving and working across Europe we noticed this problem holds true for many countries. So Anton called me up two years ago and asked me to investigate how big of a problem is this. It turns out 30 million people face the same problem living across Europe. Our research further showed that 2/3rd of the people surveyed are facing the same problem and that this translates to 7.5 billion of lost revenue to the banks.

So in short, there is a massive problem, we have found some nifty solutions and we are packaging them in a transformative product for mobile Europeans. We will accept sign ups to our beta test later this month and are very excited to serve the underserved.

2. Why name ‘europeone’?

At europeone we believe very strongly in the freedom to live, love and work wherever you are. We will create a borderless bank, on your phone and in your pocket, wherever you are.

Thus, we want to create one bank account for Europe. One account that travels with you, moves with you and banks with you. We believe there to be great opportunity in that sector.

3. How did you meet with your team? What is your background?

I have worked or have known most of our team for very long time. Richard, our CTO, and I went to high school together and entering computer science competitions. He always got a slightly higher grade in CS and we have been working together and been friends for life. He was a natural choice to tap for this role. Anton gave the idea and the initial funds to establish europeone. He has the vision and he is a natural networker. Liuba has worked with Anton for 10 and besides being a fast learner has also a wealth of experience in operations, marketing and running businesses. Finally, we needed a banking insider with a wealth of banking knowledge and a network to match. We met Martin, our CFO. His financial acuity and attention to even the smallest detail is crucial for a company such as ours.

Together we have both complimentary but also differing skills. We have a very strong team.

4. Do you see banks as competitors or partners?

Both. Banks have so many challenges in the near and medium term. FinTech is tackling every attractive part of the value chain, leaving the the uninteresting parts to the established players. It’s death by a thousand paper cuts. We partner with banks because we rely on the existing infrastructure, and there is opportunity for banks to transform themselves into enablers, investors. A defensive answer will be hard to maintain in the long term.

5. We are now less than a month away from Demo Day and the end of Startupbootcamp FinTech program, what have you accomplished so far? What is your key takeaway from the program?

Startupbootcamp is an accelerator. This holds true for us. We have started marketing, communicating and selling our services. In addition we have jumpstarted development, partnering and gained access to a world-class set of advisors and mentors. Personally, I am honoured to be here and also proud to be in the excellent company with the other startups. Good energy, Good People, Good Progress.

Find out more about europeone by visiting their Website and keep up to date with their news by following them in Twitter.
Come and meet europeone team personally on Startupbootcamp FinTech London Demo Day on 1st of December!