A young graduate launches Moneway, a community neo-bank
Fundraising of more than €1.1M and release of the Beta app
Developed since 2018 by students from BSB and Epitech Strasbourg, Moneway is a free neo-bank that is constantly evolving, supporting the practices of Generation Z and putting the concept of community at the heart of the concept of community. While the startup has just raised a first round of funding of €1,137,000, a Beta version of the application has been available since June 12.
An application adapted to the new generation
Paying, managing your budget and your payment card independently, for example by blocking and unblocking your payment card instantly from the application, but also sending, requesting, sharing money between users and opening an account in 8 minutes: here are some of the characteristics of the Moneway application, developed last year by student managers and engineers. The offer is completely free for users.
“Our concept is really based on the concept of community,” explains Noémie Nicod, Chief Marketing Officer of the young Fintech and just a BSB graduate. “Originally, the idea was born during student stays abroad for three of us, where we realized the interest that could have been had in a banking application that the user could control, which could shape it according to his practices. So this is what we offer, thanks also to the interactivity allowed via forums and social networks. Being in constant contact with the user allows us to offer a service in continuous evolution, which follows them throughout their life.”
Thus, over time, the app will be relevant to support the user towards credit or savings, for example, thanks in particular to partnerships being developed with traditional banks.
Revolutionizing the banking sector?
In terms of services, Moneway offers debit cards that are completely new from a design point of view. The Private Beta application has been downloadable on the main platforms since June 12. “To thank the first 1000 beta testers for their participation in the construction of Moneway, we have in store for them a small surprise”, reveals Noémie.
“The project is undergoing interesting development”, she continues. “We are now a team composed of 13 collaborators including 3 communicators, a designer, 9 developers. We moved into premises in Villers-le-Lac, with the aim of contributing to the dynamism of our region, Bourgogne-Franche-Comté. The incubation of the startup for 6 months in 2018 at TEG (The Entrepreneurial Garden) at BSB was invaluable in many ways, especially for expressing its doubts... and helping us to reduce them! We were able to take a step back, put things into perspective, prioritize tasks; take into account a lot of advice, on financing for example.”
With an initial fundraising of €1,137,000 in recent weeks and the launch of the app, the rise of Moneway is on track. “Our ambition is to revolutionize the banking sector and become the first French neo-bank! ” concludes Noémie.
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