Take Five: Notable Fintech Startups from Slovakia
Updated: Feb 18, 2019
Any Slovak Companies Out There? (source: Choice Loans, https://www.choice-loans.co.uk)
Is there even such a thing that can be classified as a ‘fintech startup’ in Slovakia?
I was inspiried to put together with very quick list of 5 notable fintech startups hailing from Slovakia after reading recent Let’s Talk Payments article on 17 Top 17 Eastern and Central European FinTech Companies to Watch out for in 2016.
As great of a resource it is, I feel Slovakia deserves at least one spot on the CEE fintech heatmap. Despite being a small market of 5 million people, we know economy size in itself (looking at you, Estonia) is not enough to determine the quality of startup it generates. With that in mind, here is an unordered list of fintech startups that make it to my top 5 in Slovakia at the moment:
TrustPay (merchant payments) https://www.trustpay.eu
TrustPay tends to fly under the radar in the Slovak startup scene but in fact this is one of the largest companies which can be classified under the ‘fintech startup’ label in the coutry. With a tagline ‘your payment highway’, Trustpay is offering an online payment gateway with a dedicated quasi-bank account for merchants accross the European Union. Their end-to-end solution enables processing multi-currency payments, recurring and quick deposit payments and features sophisticated fraud prevention tools.
Viamo (peer-to-peer and merchant payments) http://www.viamo.sk
Initially starting out as a peer-to-peer payment platform, Viamo was able to attract visibility and traction by partnering with several tier 1 Slovak banks including VUB (Intesa Sao Paolo) Tatra Banka (Raiffeisen Group). More recently, Viamo has been increasingly positioning itself into the merchant payments vertical where they offer both ecommerce and on-premise payment solutions.
Datamolino (SME Services) www.datamolino.com
With a 500k EUR seed investment, Datamolino’s technology is helping to ‘increase efficiency and reduce invoice processing costs by eliminating manual data entry’ from the workflow of accounting companies and small and medium businesses. By partnering with global cloud accounting solutions such as Xero and Sage One, Datamolino has set out to conquer the United Kingdon’s small and medium enterprise market.
Papaya (Point-of-Sale) http://papayapos.sk
Papaya is a cloud-based mobile POS solution designed for Android devices that helps small and mid-sized businesses improve their services and grow their sales. It is easy to install and even easier to use. Papaya’s intuitive solution enables our clients to serve their customers and process sales faster, control and plan their turnover, manage inventories and much more. With promising traction in the domestic market, the team is looking to expand to international markets soon.
Gexpay (peer-to-peer and merchant payments) https://www.gexpay.com
Gexpay has set out to disrupt the antique yet surprisingly large meal voucher market which exists in multiple European geographies. The most interesting part of their value proposition is Gexpay’s unique ‘physical peer-to-peer’ payment technology which relies on QR codes and completely overrides the incumbent payment rails with its own clearing and settlement capabilities.
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