Neonomics partners with Danish investment app

04 Apr 2024

Denmark-based investment platform Endavu has chosen Open Banking company Neonomics to simplify the process of funding investment accounts for Endavu users.

The partnership aims to enhance accessibility and enable seamless investments in more than 50,000 stocks and ETFs across over 25 markets, by enabling account-to-account payments.

According to Martin Roland Knudsen, founder and chief executive officer of Endavu, in approximately two months, more than 70% of the investment app’s users have selected Neonomics as the “preferred way” of funding their investment account.

Endavu, which has a financial license from the Danish Financial Supervisory Authorities, seeks to make investing “more accessible and straightforward” for individuals.

Endavu has created thematic collections of stocks to assist users in identifying investment opportunities based on their interests and beliefs, thereby simplifying the process of setting and achieving financial goals.

Knudsen added: “We have a unique advantage in that we have built our core investment infrastructure with latest technologies. We designed our platform with simplicity in mind, aiming to maximise the amount of our users’ funds directly contributed to growing their assets, rather than being bogged down by high processing or hidden fees commonly seen in the investment world.

“That’s also why we partnered with Neonomics, to enable a seamless funding experience for our users, as well as a cost-efficient set-up.”

Chief executive officer and founder of Neonomics, Christoffer Andvig, said that while there has been a “surge” in consumers starting to investment for the first time, the influx has increased awareness of the costs involved, which have become a “major pain point”.

“By introducing more cost-efficient ways to move money, we see a tremendous opportunity to reshape the ecosystem through Open Banking, and we are excited to support Endavu’s growth journey,” Andvig added.

Norway’s official digital mailbox Digipost recently launched a ‘Checkout’ solution for its three million end users which is entirely powered by Open Banking, in partnership with Neonomics, building on a longstanding partnership between the two companies.