Auka Settles for more with official name change
OSLO, 6th October 2020: The company formerly known as Auka has changed its name to Settle Group in order to unify and best reflect its mobile payments product offering.
Oslo-based Settle Group is responsible for overseeing the expansion of the European-focussed mobile payments app. After a positive reception in its initial launch markets of Cyprus and Croatia, the company is soon launching Settle in Bulgaria. Currently, Settle is available to download in 21 European markets and plans to officially launch in all 30 EEA states on a rolling schedule.
The company has a strong legacy of innovative firsts. The founder was the first to create and launch a mobile payments platform in Norway and the first to have a regulated financial services institution to run 100% on the Google Cloud platform. With Settle, the group’s goal is to digitise money and make it universally available.
Settle Group CEO and founder, Daniel Doderlein, says of the name change:
“Our journey started under the name of mCASH. This was sold to Sparebank 1 and later merged to become part of Norway’s now dominant mobile payment platform, Vipps. We renamed our company to Auka and invested the proceeds from Norway into making a service worthy of servicing Europe. The result was Settle. We had one vision, one team, one strong piece of technology but two brands, essentially.
“Settle has now become so meaningful that it makes the most sense for it to be our one dominant company brand. We have, with Settle, a platform that enables valuable connections between people and businesses - something that has never been so important as it is today.”
With a board consisting of some of the most respected names in Nordic payments, led by Former Nets SVP and Smart Payments CEO, Susanne Brønnum, Settle is dedicated to becoming the number one mobile payments platform in Europe.
Settle is the multi-award winning mobile payment service, network and scheme, made to serve people and businesses across Europe on a collaborative model. Settle strives to ensure that Europe stays competitive and well served without relying on U.S. or Chinese giants to take control of our financial lives and infrastructure.
Settle’s vision is to digitise and democratise money. Their mission is to create valuable connections between people and businesses.
Settle is the culmination of 10-years worth of mobile payments history. The team behind Settle have been making a name for themselves as leaders in mobile payment and commerce since 2010. From their headquarters in Norway, they’ve spent more than a decade developing an award-winning and world-class financial services platform. They developed the first mobile payments platform in the Nordics and launched the first mobile payments scheme in Norway (mCASH), impacting the lives of millions of people and helping to fundamentally change the way people pay and get paid in Scandinavia.
Paying friends, sending money to someone you purchased a second-hand item from or simply getting lunch all require different payment tools and methods and often incur hefty fees in the process. This doesn’t even touch on the associated security issues. Clearly “old money” needs to be replaced with something better - Settle is “new money”.
The company’s appetite for change for the better and their mission to digitise money in order to make it universally useful for people and businesses everywhere drove the creation of Settle.