Auka secured funding of NOK 20 million.
Auka, an Oslo, Norway-based payment technology company, completed a financial agreement for accessing NOk 20M ($2.2M).
The money is part equity provided by existing investors, part loan of NOK 10 million provided by Innovasjon Norge (Innovation Norway).
Auka, founded in 2010 and led by CEO Daniel Döderlein, developed the first mobile payments platform in the Nordics (mCASH) and launched the first mobile payments solution in Norway. The PSD2-compatible technology platform enables banks to issue mobile payment products. The Auka payment platform is the technological foundation of Settle, a product available in 21 markets, distributed by third parties including Bank of Cyprus, Sberbank, Nova media Group and JCC Payments.