Q&A- Startups

7 Questions with Jonas Piela from Avuba

1. Who are you?

I am Jonas, CEO at Avuba. For European smartphone users who have become accustomed to a superior digital experience Avuba is the next generation of mobile banking. It delivers a category defining user experience providing, simple sign-up, high levels of security, payment cards, full banking services and easy to use features for sharing, sending and understanding money – all in one single mobile app designed for everyday use anywhere, anytime.

2. Which services do you sell and who are your competitors?

TOP3 most important aspects of the Avuba product are:

  1. The digital MasterCard. The card is instantly available and securely saved in your phone so you always have it with you. It is perfect for online purchases. All transactions are visible in your app instantly so you always know how much money you have.
  2. Enhanced Security. Protect your card with spending limits, never forget or unintentionally disclose your PIN thanks to our In-App PIN Vault and instantly block und unblock your cards.
  3. Send, request and receive money across Europe via SEPA or phone number. 

Everyone can sign up for the current Avuba beta at https://avuba.de

3. How did you get your startup idea and how did you finance your startup?

To be honest, we were convinced banking should be more seamless and could even be fun. We wanted to get rid of all the things people hate about banking and make it really easy to use, worry free and engaging.

4. What were the biggest challenges in starting?

Among the biggest challenge were getting the right technological infrastructure set up. Today, I am proud to say we have the most advanced finance technology powering our products. Based on that, we will deliver a lot of great, new and exciting features in the future.

5. What areas within FinTech do you personally find most interesting and why?

Well, naturally I tend towards making the experiene for the user as seamless and enjoyable as it can be. I think we can help users understand their finances better and do a lot that include your friends and close social circle.

6. What opportunities do you see for FinTech startups in Continental Europe, and how can we help to accelerate it?

I think there is a lot we can do to not only make the experience for users as best as it can be but also do use technology in smart new ways to allow products and services that are not here today. I think we only get started and can clearly see a lot of new things coming.

7. What tip would you like to give FinTech entrepreneurs?

Get someone who is innovative and has the relevant FinTech skills. Make your product simple and then make it more simple.