Global Payment Startup Launches In Poland As Part Of EU Expansion

 Israeli-Swiss fintech startup okoora, which helps firms manage foreign funds and global payments in more than 100 currencies, has established a presence in Poland as part of its plans to expand into the European Union. 

The Polish base is set to include sales, marketing and customer support divisions, as well as an R&D center.  

According to okoora, Poland was chosen due to its flourishing fintech hub, with almost 400 companies in the sector operating there, as well as it being an EU member state that uses its own currency (the zloty).

The company says its entry into Poland will make it easier for local businesses to plan, manage and execute cross-border currency transactions using okoora’s Automatic Business Currency Management (ABCM) platform. 

The artificial intelligence-powered platform can be used to send and receive payments in any currency, to any destination in real time, and also help businesses plan, analyze and execute transactions to increase savings.

“We come to Poland with the belief that the market for currency management solutions can and should be disrupted,” said okoora founder and CEO Benjamin Avraham.

“When okoora researched the European market, Poland scored high due to its developed banking sector, high level of foreign trade and other relevant parameters. Poland also offers economic incentives that make it seem like a good idea to open an R&D center here. We believe this is the best place to jumpstart our European expansion,” he said.