The Covid-19 pandemic could be one the most important incidents of the XXI century. Its implications could be felt throughout the coming years, as it could be a major catalyzer towards the digitalization of the global economy.
For anyone that lived it, basically the entire world, it was more than a cumbersome experience; it was a complete change in the life everyone was used to live. Slowly, businesses and services started to shut down.
Amidst the chaos, came an opportunity for certain sectors and solutions for the people trying to adapt to this new world. As has been documented by numerous reports, including that of leading consulting and audit firm Deloitte’s strategies to comprehend and deal with the pandemic, there is a rising demand for payments and financial digital solutions.
The same reports record a convergence of trends across multiple sectors that has created a window to meet this demand in emergent economies and regions with high numbers of inhabitants living outside the legally financial system.
Quppy, a European fintech startup funded in 2017, fits the requirements to fill this gap. This financial solution aims to be an all-in-one contactless Superapp that provides its users access to different services based on digital and traditional funds.
In 2020, many countries saw their physical baking system shut down with stores and businesses. Many were left in uncertainty, and a problem that was moving on the surface, deepened.
Quppy has been designed to greatly enhance the user’s financial experience. Thus, the apps have integrated features that have allowed their users to mitigate the effects of the pandemic. Quppy is one of the first working apps that operates under the Bank as a Service solution.
Quppy’s instant mobile top-ups in crypto and fiat currencies were and continue to be an invaluable tool for its users during the Covid-19 lockdown measures. This feature allows them to stay in contact with their families, send and receive financial support in a fast and cost-efficient fashion.
One of the project’s main priorities is the contactless payment sector. Therefore, the top-up feature operates with any bank, payment card, and other traditional payment systems. By the end of 2021, Quppy will launch its digital prepaid card offering, and its users will have an additional tool to connect in an ever-growing world digital world.
Quppy Seeks To Expand As It Completes Successful Investment Round
The project’s success has been reflected in a recent investment round; the project was valuated at 25 million euros. Quppy CEO Dmitry Nikiforov claimed to be proud of the round’s results. Quppy managed to secure the trust of investors in an adverse economic environment with two of the most important financial regions, the U.S. and EU markets, with low performance.
In the future, Quappy will seek to expand to other regions, such as Latin America. For this purpose, the company will seek to expand its staff with specialists and experts of different backgrounds, diverse points of view, genders. This goes hand to hand with the project’s vision of building a universal all-in-one superapp. Nikiforov added:
Our metrics, including the constantly growing number of customers, of partners, a widening range of services we offer our clients and our expansion to Latin America show that we are responsive to market tendencies and clients’ needs.