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Make Payments Between Friends With Koosmik

Koosmik is a new mobile payment solution made in Luxembourg, offering a simplified money transfer experience. The mobile app allows making payments between friends, securely and for free enabling everyone to experience banking without banks! Founder Grégoire Yakan and Head of Business Development Matthieu Crance give us more insights into their solution.
(Featured image: Koosmik’s team / Image Credit: Koosmik)
Luxembourg is an ideal Launchpad; a cultural melting pot with one of Europe’s highest rates of smartphone penetration. There is also the added value of the country’s renowned expertise in the financial sector, as well as its predominantly internationally-oriented economy.
Fintech, now at your fingertips

Major changes are in store for personal banking. The engineers at Koosmik, a Luxembourg-based startup, are placing convenience and simplicity at the center of their mobile payments services for individuals and retailers. While ensuring the utmost security.

An Independent solution

The Koosmik mobile app is now available for download on iPhone and Android. All you need in order to enter this new universe of services is a bank account and credit card. This is an opportunity to bypass traditional banks and retail giants.

Test phase and rewards

According to Grégoire Yakan, founder of Koosmik, “We are now opening the service to the wider public inviting 2000 users to be early adopters. This is a soft launch, because we want to make sure our clients are totally satisfied. Ease of use is our priority. The official launch, the stage where we plan to expand our user base, is set for late September.”

“This initial phase is above all about rewarding our first users,” adds Matthieu Crance, head of business development. “We are convinced that those who try our mobile app will want to build their own independent communities around the people with whom they regularly exchange money with. These ambassadors, dubbed Koosmik pioneers, will continue to be rewarded as they promote our service. We have a few nice surprises lined up, between now and the end of summer, for these pioneers.”

Luxembourg: a demanding market

Koosmik‘s managers see Luxembourg as an ideal Launchpad; a cultural melting pot with one of Europe’s highest rates of smartphone penetration. There is also the added value of the country’s renowned expertise in the financial sector, as well as its predominantly internationally-oriented economy. This will allow for rapid expansion into new markets, first within the Greater Region and then into Western European metropolitan markets.

A first round of funding was secured early this year, allowing the startup pursue this ambitious roadmap, round B of fundraising is scheduled for 2017, to finance the European expansion.

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