“All our products are compliant with existing and upcoming regulations in Europe as SnapSwap is an authorized Electronic Money Institution in Luxembourg supervised and regulated by the CSSF,“ says Denis Kiselev, CEO SnapSwap. He tells us more about the project of the startup.
Can you present your company in a few words?
SnapSwap is a FinTech established in 2015 that offers a fully automated online onboarding solution for the financial services industry. All products are compliant with existing and upcoming regulations in Europe as SnapSwap is an authorized Electronic Money Institution (EMI) in Luxembourg supervised and regulated by the CSSF. The license is passported to all EU member states and the solutions are available in Europe. SnapSwap offers Everest, a comprehensive solution that supports SMEs and startups with the necessary financial tools to grow their businesses. It provides business cards with adjustable team limits, flexible spending modes, technologically advanced current accounts, simple interface and notifications, fair and transparent fees, intuitive, time-saving expense management, and unique community deals.
How exactly are you innovative?
Everest maximizes businesses’ productivity with business account, credit cards made for teams, and intuitive expense management software. With a fully digital onboarding and 100% online account in a few minutes, businesses gain unprecedented visibility over their business spend and help their team save time and boost performance. In a single dashboard, it’s possible to organize all the financial information of your business and be able to access it whenever you want. The Luxembourg ecosystem provides us with great access to all major players in payments and technologies. We have good contacts with banks, technology providers and payment service providers. We also interact a lot with our network, startups and partners. The House of Startups is an interesting institution with a nice environment where you can exchange ideas. That’s why we are grateful to the Chamber of Commerce for supporting such initiatives. We are also a member of the LHoFT and this environment helps us in general to learn from others, gain experience, grow our company and discover new opportunities.
How do you see your company evolving in the next 2 years?
The next two years for us are scaling up, growing our customer base and improving our value proposition for our clients. We are planning to reach out to various European markets, increase our presence in terms of marketing activities and grow our team to support our ambitious tasks. We are looking for corporate development in the area of mergers and acquisitions and reach out product offering. Luxembourg will remain our home base with our activities growing on Pan-European scale.
“The Luxembourg ecosystem provides us with great access to all major players in payments and technologies”