Challenger banks

Description
Key people
Funding rounds
Financials
Tech stack
Competitors
Founding Date | Type | Tags |
Reviews

Description
Wave makes running a small business better by providing free accounting, invoicing, affordable credit card processing (payments) and payroll. Over 3 million small business owners, in more than 200 countries around the world, rely on WaveApps to run their business.
Overview
Funding Status: | M&A |
Foundation year: | 2017 |
Location: | Toronto, Canada |
Founders: | - |
Website: | http://everyfinancial.com/ |
About Product/Service
Product cost | - |
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Key people
Funding rounds
Last Funding Date | Jun 11, 2018 |
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Last Funding Type | Angel |
Financials
Banking license | Have a full banking license |
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Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News

Description
ElasBank is a digital bank made by women entrepreneurs tailored to them.
Overview
Funding Status: | Private |
Foundation year: | 2020 |
Location: | São Paolo, Brazil |
Founders: | - |
Website: | http://elasbank.com.br/ |
About Product/Service
Product cost | - |
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Key people
Funding rounds
Financials
Banking license | No |
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Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News

Description
Doconomy is a new company that aims to find solutions to help us all live in a more sustainable way. We believe that people want to contribute to save our planet, but are hindered by insufficient tools to do so.
Overview
Foundation year: | 2018 |
Location: | Stockholm, Sweden |
Number of employees: | 11-50 |
Founders: | Johan Pihl and Mathias Wikström |
Website: | https://doconomy.com/ |
Target geographic market:
Europe
Awards:
Doconomy won the Mastercard Lighthouse Development Program 2019 and was crowned the top fin-tech startup in the Nordics and the Baltics. The Lighthouse Development Program of 2019
About Product/Service
Product cost | - |
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Key people
Funding rounds
Last Funding Date | Dec 10, 2019. |
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Last Funding Type | Corporate Round |
Financials
Key product offering | Our first solution is called DO. DO is a mobile banking service that enable users to understand the impact of their daily choices. This allows people to adjust behavior, and to compensate for their impact on the planet. We call it Everyday Climate Action. |
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Banking license | Have a full banking license |
Number of lead investors | 1 |
Names of lead investors | MasterCard |
Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News

Description
Online bank for small enterprises
Overview
Funding Status: | Private Equity |
Foundation year: | 2018 |
Location: | Ekaterinburg, Russia |
Number of employees: | 1001-5000 |
Founders: | Sinara Financial Group |
Website: | https://delo.ru/ |
Target geographic market:
Europe
Awards:
Winner of Business Mobile Banking Rank 2019 by markswebb, Winner of Usabilitylab 2020
About Product/Service
Product cost | - |
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Key people
Funding rounds
Financials
Banking license | Have a full banking license |
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Number of lead investors | 1 |
Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News

Description
MYbank, a leading online private commercial bank in China and an Ant Financial brand that focuses on SME (small and mid-size enterprise) financing. As one of the brands under Ant Financial Services Group, MYbank leverages Alipay’s AI, computing and risk management technologies to improve customer service and increase efficiency. MYbank’s efficient operating model enables it to reduce the costs for its partner financial institutions.
Overview
Type: | Private |
Foundation year: | 2015 |
Location: | Hangzhou, Zhejiang, China |
Founders: | Jack Ma |
Website: | https://www.mybank.cn/ |
About Product/Service
Regulators/Compliance | China Banking Insurance Regulatory Commission (CBIRC), which replaced the China Banking Regulatory Commission (CBRC) in April 2018 |
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The Base Currency | Yuan |
Product cost | - |
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(a) a personal account | No |
(b) a business account | Yes |
Key people
Funding rounds
Financials
Customer/Products segments | Lending, Online Banking, Supply Chain Finance |
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Key product offering | SMEs Financing |
Major shareholders | Ant Financial |
Banking license | Yes |
Type of customers | SMEs |
Number of customers | Over 16 million small companies (as of 2019) |
Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News
Paysafe Joins the MyBank Ecosystem
- 07 Oct, 2024

Description
Hufsy offers a bank account customised for startups. It helps you with all your finances, so you can do more business and less banking
Overview
Type: | Private |
Funding Status: | Seed |
Foundation year: | 2015 |
Location: | Copenhagen, Hovedstaden, Denmark |
Number of employees: | 11-50 |
Founders: | Maria Flyvbjerg Bo, Rafal Lipinski |
Website: | http://hufsy.com/ |
Target geographic market:
Europe
About Product/Service
Product cost | - |
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Key people
Funding rounds
Last Funding Date | Dec 15, 2015. |
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Last Funding Amount | N/A |
Last Funding Type | Seed |
Total Funding Amount | N/A |
Number of Funding Rounds | 1 |
Financials
Number of investors | N/A |
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Number of lead investors | N/A |
Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News

Description
BABB is a world bank for the micro-economy: a global marketplace for human innovation, financial autonomy and wealth creation. BABB stands for Bank Account Based Blockchain.
Overview
Type: | Private |
Funding Status: | Equity Crowdfunding |
Foundation year: | 2017 |
Location: | London, England, United Kingdom |
Number of employees: | 11-50 |
Founders: | Rushd Averroes |
Website: | https://getbabb.com/ |
Target geographic market:
Europe
About Product/Service
Product cost | - |
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Key people
Funding rounds
Last Funding Type | Equity Crowdfunding |
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Financials
Customer/Products segments | Cryptocurrencies, Blockchain, Banking |
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Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News
iFX EXPO: A Tour Around the World
- 05 Jul, 2023

Description
Millions of adults do not have access to an arranged overdraft and changing regulations could cause those many millions of consumers to lose access to any unarranged overdraft facility currently offered by their primary bank, meaning their payments will begin to be rejected, leading to failed payments. Fiinu will change the short term borrowing landscape by offering an innovative solution connected to a customer’s primary bank account via the “Open Banking” directive. Using Fiinu’s credit product has the potential to improve an individual’s credit score and will provide an alternative to using high-cost short-term credit which can have a damaging effect on their credit file and/or lenders credit decisions. Company's aim is to help millions of people better manage and stay in control of their finances.
Overview
Type: | Private |
Funding Status: | Equity Crowdfunding |
Foundation year: | 2017 |
Location: | Weybridge, Surrey, United Kingdom |
Number of employees: | 11-50 |
Founders: | Marko Sjoblom |
Website: | https://fiinu.com/ |
Target geographic market:
Europe
About Product/Service
Products | Loans, overdrafts |
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Regulators/Compliance | Fiinu is in the pre-application phase to obtain necessary licenses from the UK regulatory authorities |
Product cost | - |
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(a) a personal account | Yes |
Key people
Funding rounds
Last Funding Date | Dec 18, 2018 |
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Last Funding Amount | £563.1K |
Last Funding Type | Equity Crowdfunding |
Total Funding Amount | £563.1K |
Number of Funding Rounds | 1 |
Financials
Customer/Products segments | Lending, Overdrafts, Personal Finance, Open Banking, AI, ML, blockchain |
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Banking license | Fiinu is in the pre-application phase to obtain necessary licenses from the UK regulatory authorities |
Type of customers | Individuals |
Number of investors | N/A |
Number of lead investors | N/A |
Tech stack
Competitors
Founding Date | Type | Tags |
Reviews
Related News

Description
OakNorth is a credit science platform that leverages machine learning, decades of credit expertise and massive data sets to model a forward-looking view of a borrower’s financial situation, that’s informed by industry benchmarks, macroeconomic drivers, and scenario analysis specific to that business.
Overview
Type: | Private |
Foundation year: | 2015 |
Location: | London, England, United Kingdom |
Number of employees: | 501-1 000 |
Founders: | Rishi Khosla, Joel Perlman |
Website: | https://www.oaknorth.co.uk/ |
Target geographic market:
Europe
About Product/Service
Products | Personal Savings/Business Savings (Fixed Term Savings, Notice Accounts, Easy Access Accounts); Business Loans (Property Finance, Coronavirus Business Interuption Loan Scheme, Coronavirus Large Business Interuption Loan Scheme) |
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Core product offerings for individual/retail customers | Business Loans |
Pricing | Personal Savings (Fixed Term Savings: 0.43%-0.69% AER/gross, term: between 6 to 60 months; Notice Accounts: 0.40%-0.58% AER/gross (variable), term: 35,90 and 120 days; Easy Access Accounts: 0.20% AER/gross (variable), term: next-day access) / Business Savings (Fixed Term Savings: 0.35%-0.50% AER/gross, term: between 6 to 12 months; Notice Accounts: 0.30%-0.50% AER/gross (variable), term: 35,60, 95 and 120 days; Easy Access Accounts: 0.15% AER/gross (variable), term: next-day access) |
The Base Currency | £ (GBP) |
(a) a personal account | Yes |
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(b) a business account | Yes |
Key people
Funding rounds
Last Funding Date | Feb 8, 2019 |
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Last Funding Amount | $440M |
Total Funding Amount | over $848M |
Financials
Customer/Products segments | Lending, Savings |
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Banking license | OakNorth secured a full banking licence from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in March 2015 and began deposit taking and lending six months later. |
Type of customers | Individuals, Businesses |
Number of investors | 4 |
Number of lead investors | 4 |
Names of lead investors | Hurstwood, Signet Hotel Group, Kolte-Patil Developers, Bright Minds Daycare |
Tech stack
Competitors
Founding Date | Type | Tags |