THE STORY
In 2015 me and my partners entered into a partnership with Nova, which at that time had become the largest mobile provider in Iceland. I worked closely with Liv, then Nova’s CEO, in designing what was to become the first Mobile Payment app in Iceland, Aur.
The Aur solution came as a shock to the financial market in Iceland, it was new, it was fresh and nobody saw it coming. We had been able to develop a product using the current banking infrastructure in Iceland and payment facilitators without them having a clue we were doing it. As a result many more FinTech solutions from start-ups and banks emerged to challenge Aur.
Today Aur remains the most popular peer-to-peer payment solution in Iceland.
In March 2021 I sold all my shares in Aur to Kvika Bank who acquired all shares in the company.
THE BUSINESS
Aur has over 90.000 active users in Iceland using the app for peer 2 peer payments. That's over 40% of all financially independent Icelanders.
The main revenue stream however is the loan function of the app where users can apply and get an instant loan for up to 1 million ISK (approx $8k)
MY WORK ON AUR
INITIAL IDEA & CONCEPT
FOUNDING PARTNER
BRANDING & LOGO
BUSINESS DEVELOP-
MENT
UI & UX
BOARD MEMBER
THE PRESS
Mbl.is - February 2016
„Samkeppnin heldur öllum á tánum“
Mbl - November 2017
Aur í samkeppni við bankana
Vísir - November 2017
Í samkeppni við bankana
Viðskiptablaðið - March 2021
Kvika kaupir Aur
Mbl.is - March 2016
Aur með posa fyrir atvinnurekstur
AWARDS & NOMINEES
2017 Nordic Startup Awards
Best FinTech app (Nominee)
2016 Iceland Web Awards
App of the Year - (Nominee)
