Aircash is the first Croatian fintech to launch its own mobile wallet on the market. Until now, mobile applications that allow you to replace your physical wallet with your phone and pay this way were only offered by banks – Erste with the KEKS Pay app, Zaba with Telekom Banking and mZaba, as well as Revolut, Monesa…

The surprise is even greater because it was expected that the first domestic fintech competitor to banks would be CorvusPay, part of the M SAN group. However, the discreet Aircash is not a bank, but a new type of financial institution. The Croatian National Bank granted it an EU electronic money license.

Until now, only three companies had such a license: HT, PBZ Card, and Erste Card Club. In addition to being the first major regulatory success for Croatian fintechs, Aircash has also distinguished itself with market success. The Aircash mobile app has 40,000 users and is the third most popular fintech app in Croatia. KEKS Pay, for example, has 62,000, and Revolut 50,000 users.

Hrvoje Ćosić, founder and CEO of Aircash, says they have been building their market position for just over two years. In mid-2018, they had 15,000 users and a weekly turnover of 250,000 kuna.

“Now we have 40,000 active users, and 48,000 have downloaded the app, while the turnover we used to achieve weekly last year is now our daily turnover, and both indicators are growing,” says Ćosić.

Published on: Poslovni.hr