Snab meaning: Before we begin, you may be wondering, what is Snab, where does it come from, what is Snab ‘s meaning?
The origin of Snab comes from the Swedish, “Snabb“, which means, fast, quick, immediate, instantaneous. All these adjectives are part of the root and soul of Snab.
The Snab platform was born as a consequence of the bad experience of one of the founders, in all areas related to treasury, cash management, payments, international transfers amongst others. For more than 6 years, Gorka Aguirre among his various parallel roles, supervised the treasury of several companies in which his fund participated and suffered first hand the bad experience offered by banks and treasury platforms for companies.
In today’s world, where we can send money to our friends in one click via Bizum in Spain, or Venmo in the US, exchange money globally in 2 clicks via Wise, purchase stock or crypto assets in 1 click… It is neither possible nor logical that the business-to-business (B2B) sector has become so obsolete. While all the innovation over the last few years in the Fintech industry went to designing optimal user experiences for the end consumer. The areas of banking, treasury and payment experiences for companies have been left 10 years behind, and from Snab, we want to lead the next wave of innovation in this sector.
Therefore, Snab is born with the objective of modernizing and digitizing the corporate banking and treasury experience. Snab begins its journey by first automating the cornerstone of all treasury, business-to-business payments. From there, Snab expects to grow both horizontally and vertically, providing additional treasury services such as liquidity forecasting, cash management, financing, treasury investments, debt monitoring and intercompany transactions, among others.