Okoora launches integrated payments, banking and risk management platform
Swiss-Israeli fintech start-up Okoora has launched an integrated platform for global payments, banking and risk management, powered by AI.
The platform, called Automatic Business Currency Management (ABCM), provides real-time insights into currency markets, streamlines currency management and offers AI-driven risk mitigation.
Okoora says its platform can help businesses gain control over their foreign currency cash flow, enabling “feeless efficiency” for global payments across more than 100 currencies worldwide. To facilitate its expansion, the start-up has also submitted licence applications in multiple European countries.
“Our advanced AI-based risk management system continuously analyses customers’ activities, unique characteristics and the business environment,” explains Benjamin Avraham, CEO and founder of Okoora.“This, combined with tailored alerts and recommendations, has led to significant financial gains for Israeli businesses, totaling billions of shekels.”
Founded in 2021 and launched in 2022, Okoora claims over 7,000 enterprises and small and medium-sized businesses (SMBs) as customers, processing “tens of thousands” of transactions totaling billions of dollars. Operating as a bootstrapped venture, Okoora claims it achieved profitability this year.
Currently employing a team of 70 people based in Israel, Switzerland, Germany and India, Okoora plans on doubling its workforce in anticipation of its expansion.