During the Impact fintech‘19 conference in Katowice, a new Polish fintech company called ZEN announced it would launch soon. The man behind it is Dawid Rożek, known for co-founding the international gaming platform G2A ZEN is planning on entering the market in mid-2020.

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What will ZEN's business be? Rożek revealed that the name stands for “zero-effort non-bank”. It will offer a set of services for companies, which will include a payment account (the company is an electronic money institution licensed by the Bank of Lithuania) for domestic and international transfers with competitive exchange rates. The process of opening an account will be fully automatic. A Mastercard will be issued for the account, and all services will be managed via a mobile app. ZEN will also offer online payments.

According to Dawid Rożek, there are many high tech financial services for individual retail customers, but the offer for companies is very limited. - So far it has mostly been limited to services such as leasing or factoring. ZEN will fill a market gap by providing entrepreneurs with a convenient way to manage their company finances without tiresome procedures and bureaucracy - says Rożek.

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ZEN is in a strategic partnership with Mastercard, which will support the fintech company by issuing payment cards and managing payments, but also by bringing ZEN services to the market and sharing them in the open banking environment. - We know that the most innovative ideas are born when startups and big players join forces, which is why we work together with fintech companies, offering our know-how, tested innovative solutions, and a global reach - says Bartosz Ciołkowski, general manager for Poland, Czech Republic and Slovakia at Mastercard Europe.

ZEN has also announced that Michał Bogusławski joined the team. He previously worked for PayPal for many years, among others, where he managed sales on 23 markets and was responsible for strategic customers in Central and Eastern Europe. He will be ZEN's sales director, responsible for building the company's offer and developing its business.