SomBank
SomBank is fully-fledged Shari’ah compliant bank approved by the Central Bank of Somalia (CBS) offering banking services
61 employees · est. 2017 · Somalia
SomBank is the older company (2019 vs 2017); SomBank is the larger of the two.
Side-by-Side Comparison
| Metric | myTU | SomBank |
|---|---|---|
| Founded | ||
| Founded | 2019 | 2017 older |
| Headquarters | ||
| Headquarters | Vilnius, Lithuania | Somalia |
| Employees | ||
| Employees | 25 | 61 larger |
| Industry | ||
| Industry | Finance, Financial Services, Fintech | Finance, Financial Services, Banking |
| Funding Stage | ||
| Funding Stage | Series A | Not tracked yet |
| Total Funding | ||
| Total Funding | $16.00M | Not tracked yet |
| Funding Rounds | ||
| Funding Rounds | 3 | Not tracked yet |
| Services | ||
| Services | Mobile banking services offering personal, business, and child accounts, with features such as seamless transactions, currency exchange, savings goals, and cross-border payments. Additionally, the platform provides API integration for business accounts and prepaid cards for kids. | Not tracked yet |
| Target Customers | ||
| Target Customers | The target customers/users include individuals seeking convenient and affordable mobile banking solutions, business owners requiring efficient cross-border payment options, as well as parents looking for secure and easy-to-manage financial solutions for their children. | Not tracked yet |
| Taxonomy | ||
| Taxonomy | Digital Banking, Mobile Banking, AI-powered Solutions, Payment System Integration, European Payment System, KYC And AML Automation, Google Cloud Platform, Secure Data Management, Consumer Credit, Electronic Money Institution, Online Banking Solutions | Shari’ah Compliant Banking, Islamic Finance, Commercial Banking, Trade Finance, Mobile Banking, Crossborder Payment, Somalia, Central Bank, Financial Products, Shari’ah System |
| Website | ||
| Website | mytu.co | sombank.so |
About myTU
myTU is a Lithuania-based fintech startup founded in 2019. With the slogan "BANKING MADE SIMPLE," myTU aims to revolutionize the banking experience for consumers and businesses. Leveraging cutting-edge AI and cloud technology, myTU is the first banking platform on Google Cloud, utilizing Google’s Fl...
About SomBank
SomBank is a fully-fledged Shari’ah compliant bank, approved by the Central Bank of Somalia (CBS), offering banking services in a complete Shari’ah system. Established in 2017, the bank operates as "The Home of Shari’ah Compliant Banking," delivering innovative Shari’ah Compliant Financial Products,...
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Funding, hiring, leadership and stack changes at myTU and SomBank — by email.
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Compiled from the BounceWatch company index. We last looked at myTU on 3 Mar 2025, and SomBank on 15 Sep 2024. Where a field is blank here, it means we have not recorded it — not that the answer is zero. How we source and date this.