Toshl wants to become the of Europe, if the banks will let them

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While attending an exhausting, snowy yet insightful LeWeb in Paris, the TechCrunch Europe team met with a variety of startups and founders. One of them is a recently launched Slovenian company called Toshl, which gives people a well-designed mobile app to track their day to day expenses.

Both the web interface and the mobile version, which is available for most mobile phones such as iPhone, Android and Symbian, allow you to input all of your expenses manually and sync them in between. In comparison to other startups in the space, however, Toshl has not yet secured any partnerships with banks.

One of Mint’s keys to success has been compatibility with most American banks. By allowing users to link their debit and credit card accounts to their Mint accounts the hassle of manual input is eliminated and, therefore, enabled the service to scale. As one can imagine, Europe still bears an immensely incoherent financial system, aside from the Euro as a united currency. Thus partnering with banks is an incredibly difficult task, and can only be accomplished country by country. Few banks are pan-European and after the financial turmoil getting access to customer data and bank accounts is understandably difficult.

Toshl is currently self-funded and is a spin-off of a well running Web agency in Slovenia. At Le Web, Toshl’s User Interface Lead Matic Bitenc told me that they are in talks with various Slovenian banks and are preparing their mobile roll out for the remaining platforms.

Its success, however, is highly dependent on whether the company manages to break down walls and partner with banks in multiple European countries.

  • Drew Williams

    The andriod app is very good, if you have bank accounts in the US. It will be interesting to see if Toshl can do a go job of the European market, there is a lot of demand for this kind of app, especially in the current climate.

  • Hugues Pisapia

    Just mentionning for completeness that there are numerous web sites that propose this kind of service in Europe : among them ioutbank in Germany, in the UK, or (of which I’m part of the founders) in France.

    They do not all propose both web and mobile access, but they all connect to banks which is key in the adoption for these services.

  • Margus


    In Estonia there is working similar service Fyrca.

  • Drew Williams

    Mobile access and bank integration is what makes so successful and so easy to use, really need something like that in the uk

  • Linda Love

    Yes, bank rules need to spur capitalism

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