Astat: New Norwegian business account for SMBs has closed NOK 4,5 Million in its first round of funding.


Based in Oslo, Norway, Astat has closed its first round of funding, pre-seed of NOK 4,5 million. Astat is Norway's newest bank challenger explicitly suited for SMB customers across Norway, Astat is a business account that includes features such as:

  • Automated accounting
  • Financial forecasting
  • Easy and quick onboarding and KYC
  • Automated receipt and expense tracking
  • Invoice generation and bill management

Astat's card service will be 100% mobile, and Astat will not be manufacturing physical plastic cards. Instead, Astat uses Google Pay and Apple Pay for POS payments and virtual cards for online purchases.

Astat offers a new way to target Norway's smaller SMBs to benefit business owners everyday lives and bring ease of use and accessibly and excellent customer service and support to business owners and entrepreneurs when they need it most.

Axel Hunter, founder and CEO of Astat said:

"Small and medium sized businesses in Norway are underserved by the traditional banks in ease of use, transparency and customer service. We've streamlined the old bank's business model so that our Norwegian customer's get more.

“By paying these services forward, we believe that we can achieve higher success for new businesses and innovators in Norway by giving them the support that they need in the crucial early stages of business.”

“As a father and business owner, I identify with the customer myself. An Astat account will contribute to a better work life balance by minimising time spent on business administration so that our customers can be more effective at work and more present at home.”

About Astat:

Astat is Norway's first truly customer-centric business account. Astat has been established after a trend in the Norwegian banking market where smaller businesses and startups feel underserved by the traditional banks. Astat believes that this should be easy, seamless and integrate with our daily lives. Astat aims to give small business owners access to better familiar and automated financial tools to increase their business's effectiveness, have time to concentrate more on what they do best and less on financial administration.