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Snapswap CEO’s Denis Kiselev Explains How Everest Helps Businesses Achieve a Higher Degree of Flexibility and Control Over Payment Flows

kokou adzo



Denis Kiselev SnapSwap

Tell us about you, your career, how you founded SnapSwap

Denis Kiselev: I have a degree in computer science and economics and have always kept an interest in technology. I started my first Fintech company in Seattle, but moved to San Francisco. However, five years ago I relocated to Luxembourg to establish my second Fintech company. Before Fintechs, I had a quite successful career in C-level positions in financial services. 

How does SnapSwap innovate? 

Denis Kiselev: According to studies, 69% of business leaders want to change their banking service provider. Technology can help provide advanced management tools quickly and efficiently. We created the Everest project that supports SMEs and startups by allowing fast and easy access to payment cards and the possibility to manage expenses efficiently online. Everest helps business owners to monitor and manage card usage by their teams and offers a current account with automated invoice processing.

Everest offers a collaborative interface with permission systems, such as contactless payment, activation and deactivation of cards in a few clicks. Businesses can obtain virtual or physical cards, manage alerts, control card spending limits for each member of a team. We integrated an expense report module, with the possibility to attach digital receipts. The tool allows secure and instant payments, honoring or issuing invoices. It also offers an account management dashboard with 360° real-time visibility of all operations, and the ability to export this data to facilitate the preparation of an accounting reconciliation.

As a principal member of Mastercard in Luxembourg, we are able to develop highly innovative payment products via direct integration with one of the largest payment networks in the world for issuing cards and processing card payments.  

How the coronavirus pandemic affects your business, and how are you coping?

Denis Kiselev: The situation is not easy for anyone, but today we remain focused on the development and promotion of our products. We have strong partnerships and aim to serve some 200,000 customers by 2021 in the Benelux region. We could also observe a rise in the demand for online services, especially when it comes to financial and banking services, which is an excellent opportunity for Everest.

How do you project SnapSwap in the future?

Denis Kiselev: Our goal is to quickly cover the entire European continent and to offer Everest in all European Union countries from 2021. There are 25 million small businesses in the European Union, employing nearly 100 million people. The market offers strong growth potential.

Who are your competitors? And how do you plan to stay in the game?

Denis Kiselev: Our product is unique in Luxembourg. Today, most digital solutions for banking services are aimed at private individuals. Our product is designed to make life easier for companies. Unlike some of our competitors’ products that offer some of our features, SnapSwap provides a pan-European solution with multiple related services. Our goal is to create a community that benefits from advanced financial technology services and a full range of unique offers, specially designed for Everest community members, such as credits with Amazon Web Services, accommodations at special rates, partnerships with office spaces or privileged access to Business Lounges in airports, etc. Some partnerships have been negotiated by Mastercard, and we negotiate other partnerships directly. 

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Kokou Adzo is the editor and author of He is passionate about business and tech, and brings you the latest Startup news and information. He graduated from university of Siena (Italy) and Rennes (France) in Communications and Political Science with a Master's Degree. He manages the editorial operations at

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