Okora, an Israeli-Swiss fintech start-up, is expanding its operations in the European Union by entering the Polish market. The company has developed an AI-based cloud platform for managing global payments, banking, and risk management.
Okora’s entry into Poland aims to make it easier for businesses in the country to plan, manage, and execute cross-border foreign exchange transactions. The Automated Business Currency Management (ABCM™) platform helps businesses manage currency volatility risks. Additionally, Okora offers banking services through APIs, allowing fintech companies, banks, and other financial institutions to offer combined transaction and hedging services to their customers.
Poland’s position as a member of the European Union with its own currency and a thriving fintech industry presented an attractive opportunity for Okora. With 368 fintech companies active in Poland and global fintech giants establishing R&D centers in the country, Okora saw potential for growth in the region.
Benny Avraham, founder and CEO of okoora expressed his confidence in the Polish market as a strategic entry point into the European market. The company believes that foreign exchange management solutions can benefit from a revolution and see Poland as an ideal starting point for their expansion plans.
Since its launch in August 2021 okoora has experienced significant growth registering a 465% increase in payment transactions and a 161% increase in protection transactions against currency fluctuations. Furthermore okoora saved businesses over NIS 11 billion in international foreign exchange transactions. The company is now profitable without external investments operating as a bootstrap with around 100 professionals across multiple countries looking to recruit additional employees to support its growth abroad.
