Moven

Moven is a mobile financial service provider operating in the United States. Moven was founded in 2011[1] by Brett King, author of the Bank 2.0, Bank 3.0 and Bank 4.0 books.[2] Moven's mobile payments system relies on NFC technology, available via contact stickers placed on users' mobile devices.[3] Moven's products allow users to track their financial wellness using Moven's tools: CRED Score, MoneyPulse and MoneyPath, and a financial personality test.[4] Moven launched its mobile banking and mobile payment services in 2013.

Moven
Industryfinancial service
Founded2011
FounderBrett King
Headquarters
United States
ProductsCred Score
MoneyPulse
MoneyPath
Websitewww.movenbank.com 

Moven has been featured in American Banker,[5] BetaKit,[6] BRW,[7] and PSFK.[8]

Organization & funding

In August 2012, Moven announced that it had closed a $2.4 million seed investment round,[9] funded by Moven's founders, Anthemis Group, Raptor Ventures, Kevin Plank (CEO of Under Armour), and a syndicate of Singaporean investors.[10] In 2013, a fintech VC fund Life.SREDA invested $2 million in the Movenbank.[11]

Closing

Moven closed its US consumer financial services operations in 2020 due to lack of funding. The company continues to operate as a mobile banking and financial technology application developer, creating a white-label solution for other financial institutions.[12]

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References
  1. Myers, Courtney. "Movenbank: The world's first cardless bank launches in Alpha". The Next Web. Retrieved 18 January 2013.
  2. Movenbank deposits .4 million of seed capital
  3. Greenemeier, Larry. "Android Embraces, iPhone 5 Passes on Near-Field Communication Data Sharing". Scientific America. Retrieved 18 January 2013.
  4. "A Vision for 'Frictionless' Banking". American Banker, 1 May 2012.
  5. Crossman, Penny. "The Future of Banking Is All About Context: Brett King". American Banker. Retrieved 18 January 2013.
  6. Bury, Erin. "Mobile Banking Startup Movenbank Raises $2.4million, Launches CREDscore tool". BetaKit. Archived from the original on 8 March 2013. Retrieved 18 January 2013.
  7. Cameron, Mark. "Banking on Social Media". BRW. Retrieved 18 January 2013.
  8. Bailly, Nestor. "Banking Startup Uses Social Influence to Calculate Credit Score". PSFK. Retrieved 18 January 2013.
  9. Mobile banking company Movenbank seals $2.41m seed funding | AltAssets Private Equity News
  10. Finkle, Victoria. "Movenbank Raises $2.4M in Seed Funding". American Banker. Retrieved 18 January 2013.
  11. 'Russia’s Life.SREDA invests in US startup to build “world’s first cardless bank”'. East-West Digital News.
  12. https://www.businessinsider.com/us-neobank-moven-shutters-as-coronavirus-dries-up-funding-2020-3
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