Luxembourg 17.10.2016
Cashcloud is now available in 20 different countries under new ownership

Cashcloud’s new investors are fully supporting the company’s expansion strategy, as already announced in August. The new group of stakeholders are planning an investment of a double-digit amount in millions, to transform Cashcloud into a global market company.

Cashcloud-CEO Prof. Moritz Hunzinger: “Our current investors are supporting our growth strategy and provide the required funds to acquire new stakeholders from major NFC markets. Our goal is to become one of the leading mobile wallet solutions in Europe. By the end of this year we aim to successfully finish our internationalisation project and be present on all major european markets, so we can implement our marketing strategy in the first quarter of 2017. To achieve the goals outlined above, we have a seven-figure budget available.”

The first steps in the right direction have already been accomplished. As of September, Cashcloud is available in all Euro-States. Gordana Adolf, the Head of Marketing at Cashcloud: “Mobile payments are going viral - the amount of users who reach for their smartphones to make payments, will increase dramatically in the foreseeable future. The importance of the fintech industry is constantly evolving and we want to be part of it right from the beginning, to gain market shares and become a leading company in the sector.” Cashcloud plans further expansions into other european markets. Shortly the app will be obtainable in Switzerland, United Kingdom, Romania and Poland.

Technological progress and development is of high value for the company. Cashcloud decided from the beginning to implement the NFC (Near Field Communication) solution as one of the main features of the app, which has proven to be beneficial in the long term. Direct competitors, who have proposed the two-dimensional QR technology as a solution for mobile payments, have vanished from the market, due to very high development costs. The NFC sticker, currently used by the company, is a bridging technology, until the time when it can be replaced by HCE (Host Card Emulation) technology. Forthcoming Android-Users will be able to use their smartphone's build-in NFC-chip, which will make the sticker obsolete. Solely Apple-users will have to rely on the NFC-sticker technology, since the NFC-chip of Apple smartphones remains blocked for external development work.

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