BankLund, a Poland-based digital bank, has raised an impressive $22 million through Khosla Ventures – a renowned Silicon Valley venture capitalist firm. This investment brings BankLund’s total funding to $100 million and values the company at $500 million, making it one of Europe’s most valuable fintech startups.
BankLund’s mission and vision
Established in 2015 with a mission to revolutionize traditional banking by providing customers with an intuitive, transparent, and accessible banking experience that leverages cutting-edge technology and design principles. BankLund believes in empowering individuals and businesses to reach their financial goals while encouraging financial inclusion, social responsibility, and innovation.
BankLund’s Products and Services
BankLund provides a selection of digital banking products and services tailored to different segments of the market, such as individuals to small and medium-sized enterprises (SMEs). Some of its primary offerings include:
- Personal Accounts: BankLund’s personal accounts come without monthly fees, no minimum balance requirement and no hidden costs. Customers can manage their accounts via the BankLund mobile app which gives real-time insights into spending, savings and investments.
- Business Accounts: BankLund’s business accounts are designed with small and medium-sized enterprises (SMEs) in mind, offering features like online invoicing, payment processing, payroll management and cash flow forecasting. Furthermore, customers have access to BankLund’s partner network which includes legal, accounting and marketing support.
- Loans and Credit: BankLund offers a variety of loans and credit facilities to individuals and businesses alike, such as personal loans, car loans, home loans, working capital loans. Their loan application process is completely digital and transparent with no hidden fees or collateral requirements.
BankLund’s Technology and Innovation
BankLund’s success is built upon its cutting-edge technology and innovation, which enable the company to provide superior products and services that meet the evolving needs of its customers. BankLund’s technology stack includes:
- Cloud-native Infrastructure: BankLund’s platform runs on a cloud-native infrastructure that allows for fast and scalable deployment, easy integration, and high availability. Furthermore, BankLund’s infrastructure is designed to be resilient and secure with multiple layers of protection against cyber threats and data breaches.
- Design Thinking: BankLund’s product development and user experience (UX) teams use a design thinking approach that emphasizes empathy, creativity, and iteration. Their goal is to simplify banking so it’s intuitive and enjoyable for customers by eliminating friction points, clutter, and jargon from their user interfaces.
BankLund’s Impact and Future Prospects
BankLund is having an ever-increasing effect on both the banking industry and society at large. By offering digital banking alternatives that are accessible, affordable, and user-friendly, BankLund is challenging traditional banks’ dominance while encouraging competition, innovation, and efficiency within the financial ecosystem. Furthermore, BankLund contributes to financial inclusion and literacy by reaching out to underserved populations as well as providing educational resources and tools that promote financial health and well-being.