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Communication Team

December 04, 2020

Press Releases

wamo.io launches in Malta with sights set on rest of Europe next.

LONDON, United Kingdom and VALLETTA, Malta, Dec. 4, 2020 - The wamo.io app is a financial management and organisation platform designed for individuals, and businesses of all sizes.

A plethora of banking, accounting and finance apps have made money management, organisation and orchestration easier, simpler and faster than could be imagined just a decade ago. But these products generally exist in isolation, meaning consumers have to use a gallery of apps in order to really benefit from the latest advances in fintech.

wamo.io brings all these benefits together under one roof. From the app you can do just about anything you need to do with money without logging out. Most exciting of all is that account holders are able to manage a family or team’s finances from the app too – from issuing cards to setting budgets and sending payments with currency options.

Our mission: To make managing and organising finances effortless, for all.

Features of wamo.io

wamo for individuals

  • Easy to set up, with accounts and virtual cards ready to go in minutes.
  • All the benefits of the best challenger banks: make instant, recurring and future payments; 24/7 SEPA and Faster Payments; currency options.
  • Family-friendly features: issue and manage both virtual and physical cards for family members, oversee usage, create limits and make and take payments between accounts – wamo removes so much of the hassle and cost of managing family finances.
  • Unbanked individuals can use their wamo account to make and take payments, no bank account needed.

wamo for businesses

  • In most countries in the world, opening a business bank account is a time-consuming, hurdle-jumping hassle. With wamo, setup takes minutes.
  • Offers the same benefits of the best challenger banks with the same advantages as for individuals.
  • wamo comes into its own for teams: account owners can issue and load cards for team members (and themselves) and manage them from the app; set budgets and view expenditures per project.
  • Account owners can track and categorise spending and manage receipts uploaded by the team.
  • By integrating a preferred accounting app (like Sage Business Cloud or Xero), or by using wamo Reports, wamo becomes an accounting platform providing expenses and transaction analyses at set intervals or on demand.

On the horizon

We’ll soon be introducing card-to-card payments in over 130 countries using contactless QR codes.

“QR codes are becoming a familiar part of everyday life, making it not only possible but necessary to expand the scope and use of this technology, primarily in the field of finance.” The FT

We like to think of wamo as ‘egoless tech’ – using smart technology to bring together the best of what’s available today, providing an experience that is designed to make money easy and optimised, for everyone.

“wamo.io is our first consumer product and we have a big vision for it. Our mission is to fundamentally transform how value is exchanged, effortlessly for everyone. We’re focussed on developing a ‘new generation experience’ for both individuals and businesses to meet the paradigm shift in behaviour we see happening around how people finance assets and relate to contactless payments. We believe we’ll be delivering tremendous value for our customers with this product. wamo is launching now in Malta and we aim to expand across Europe initially. While we launch our MVP, we’re also looking forward to closing a bridge round of financing in the coming months. It’s exciting.” Yanki Onen, co-founder and CEO at wamo.io

"We are not another challenger bank, but as a technology company we do challenge the status quo. At wamo.io our motto is “Because… why not?” – and that’s not to be flippant! We are a growing team of (currently) 30 talented, passionate team players - we’re looking forward to changing things.” Eren Dursun, co-founder and CTO at wamo.io

*wamo is currently raising a bridge round preparing for potential Series A investment in 2021. *

For more details and press inquiries please contact: wamo.io Communication Team press@wamo.io

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wamo and the wamo logo are trade names of wamo Technology Limited and may not be used or reproduced without the consent of the owner.

wamo.io LTD incorporated and registered in the United Kingdom under the company registration number 12352849 and the operational office of which is at WeWork, 199 Bishopgate, London EC2M 3TY. wamo operates the wamo.io website and the app. wamo is not a bank, the current account is an e-money account. Issuance of Electronic Money and payment services is provided by PayrNet Limited. PayrNet holds an amount equivalent to the money in the wamo current accounts in a safeguarding account which gives the customers protection against insolvency. We are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 922901) for the issuing of electronic money. wamo is an EMD agent of PayrNet.