Okura Opens New Sales and R&D Offices in Poland to Revolutionize Foreign Exchange Management for SMBs
Okura, an Israeli-Swiss fintech start-up, has recently expanded its operations in Poland to tap into the European Union market. The company’s entry into Poland will help businesses manage cross-border foreign exchange transactions with greater ease. This move includes establishing sales offices, a marketing and customer service team, as well as an R&D center to support product development.
Okura’s Automated Business Currency Management (ABCM™) platform helps manage risks associated with currency volatility and provides financial solutions for businesses looking to execute foreign exchange transactions. Additionally, Okura offers banking services through APIs that enable fintech companies, banks, and financial institutions to offer combined banking services with transactions and hedging options.
The decision to expand to Poland was influenced by the country’s membership in the European Union, the use of its currency (the zloty), and the thriving fintech industry there. With 368 active fintech companies and global players like Binance, Curve, Kevin, Revolut, and Tink already present in the market, Poland presents a strategic opportunity for Okura.
Founder and CEO Benny Avraham believes that entering the Polish market aligns with their goal of revolutionizing foreign exchange management solutions for small and medium-sized businesses (SMBs). Since its launch in 2019, Okura’s ABCM platform has saved Israeli businesses over NIS 11 billion in international foreign exchange transactions. The company has experienced significant growth in transaction volumes and protection transactions against currency fluctuations. As of 2023, Okura is profitable without external investments and employs professionals in multiple countries to support their growth.
Overall, Okura’s expansion into Poland marks an important step in their European market strategy driven by the country’s economic indicators, banking sector, and currency conversion volumes between the Israeli shekel and Polish zloty. This move positions Okura to provide valuable financial solutions to businesses in Poland and beyond.
