How they describe themselves: The Munich-based start-up Lendstar has developed an app with which users can lend, share and send money, combined with social features. The users can also link their current account directly with the app, to make simple, fast and secure bank transfers to their friends. The team has had numerous successes with their app, amongst them winning the Best of Mobile Awards 2015 in finance and being crowned the best Finance App of 2014 by Android magazine. Lendstar is currently working in partnership with various national and international banks. Lendstar is available in German and English, for iOS and Android.
How they describe their product/innovation: We use conventional wire transfers as a mean of communication (and payment) by combining a messaging service with a payment service. By perfecting usability and convenience of a normal wire transfer for the end-user we enable retail banks to get back their access to a young and hard to please target group. We achieve this through building an international financial-social-network by joining strategic co-operations with various banks. We are providing them a co-branding app. Feature-wise this is similar to our Lendstar app, but different in CI. Both apps are interoperable, hence users of one bank can send money to users of another bank.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
Bus. Dev. & Sales: Johannes Schubert, Head of Product Development, firstname.lastname@example.org
Press: Christian Ruffing, Communications Manager, email@example.com