Auka to secure $1.8M from Sparebank 1

Norway Investments 22 November 2018
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Auka, an Oslo, Norway-based payment technology company, secured NOK 15M ($1.8M) in capital investment.

The money was provided by existing investor, Sparebank 1 for a stake of approximately four percent in the company.

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.

In 2015 Sparebank 1 bought the Norwegian part of Döderlein's company mCASh, and Döderlein continued the international venture under the name Auka.