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Auka officially changes name, renews mission to digitize money

The Oslo-based mobile payments company formerly known as Auka, has changed its name to the Settle Group in order to unify its mobile payments product offering and its goal to digitize money and make it universally available, according to a press release.

"Our journey started under the name of mCASH. This was sold to Sparebank 1 and later merged to become part of Norway's now dominant mobile payment platform, Vipps. We renamed our company to Auka and invested the proceeds from Norway into making a service worthy of servicing Europe. The result was Settle. We had one vision, one team, one strong piece of technology but two brands, essentially," Daniel Doderlein, CEO and founder of Settle Group said in the release.

Doderlein was the first to create and launch a mobile payments platform in Norway and the first to have a regulated financial services institution to run 100% on Google's Cloud platform.

"Settle has now become so meaningful that it makes the most sense for it to be our one dominant company brand. We have, with Settle, a platform that enables valuable connections between people and businesses - something that has never been so important as it is today," Doderlein said in the release.