A €1.1 million fund-raising campaign and beta app release
Set up in 2018 by BSB students and Epitech Strasbourg, Moneway is a free-of-charge neo-bank that is in a perpetual state of development, designed to serve the needs of Generation Z and based on a defining sense of community. Following an initial fund-raising operation worth €1,137,000 a Beta version of the bank’s app was released on 12th June.
An app for a new generation
Amongst various operations, Moneway enables users to pay, manage their budget and block and unblock their payment card with complete autonomy directly and immediately from the app, as well as send, request and share money among fellow users and even open an account in the space of 8 minutes. The app was developed by student managers and engineers and comes at zero cost to use.
“Our project is based upon the concept of the community’, explains Noémie Nicod, Chief Marketing Officer of Fintech and a recent graduate of BSB. “At the beginning, the idea came about when three of us were on study placements abroad and we realised how useful it would be to have a banking app that the user could fully control, and customise according to his or her needs. This is what we therefore came up with, thanks to the interactivity that forums and social networks offer. Being in constant touch with the user enables us to deliver a service that is always developing and follows the pace of each user’s life.”
Over time, the app will become of particular use for obtaining credit or making savings, amongst other needs, thanks especially to partnerships currently being negotiated with traditional banks.
A revolution of the banking industry?
In terms of the services available, Moneway offers debit cards like no other from a design point of view. The private Beta version of the app has been downloadable on all major platforms since 12th June.
“We had a little surprise waiting for the first 1,000 testers of the Beta version, who helped in making Moneyway what it is today”, reveals Noémie.
“The project is progressing nicely”, she continues. “We now have a 13-strong team comprising 3 people working on communications, 1 on design and 9 on development. We are now set up in an office in Villers-le-Lac, with a view to contributing to the regional economy of Bourgogne-Franche-Comté. The 6-month incubation period for the project within the BSB Entrepreneurial Garden was invaluable from a host of reasons. It helped us share our fears and shed them at the same time! We were able to take a step back, relativize the situation, and establish our priorities, as well as take on board advice, on financing matters amongst others.”
Following an initial fund-raising campaign amounting to €1,137,000 in recent weeks and the launch of the app, Moneway is clearly heading in the right direction.
“Our aim is to revolutionise the banking industry and become France’s top neo-bank!” concludes Noémie.