Koverly
Koverly is a US-based B2B payments and embedded financing platform that helps importers, freight forwarders, brokers, and software providers send cross-border payments in 128 currencies, manage FX risk, and offer BNPL payment deferral through white-label integration.
- Company typePrivate
- Founded2021
- HeadquartersWaltham, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Koverly does
Koverly is a US-based B2B payments and embedded financing platform that enables businesses to manage cross-border payments, foreign exchange, trade credit, and receivables online. Founded in 2021 and headquartered in Massachusetts, the company is led by founders Igor Ostrovsky (CEO) and Michail Medvinsky (CTO), and operates a modular product portfolio spanning Koverly Pay (vendor payments via ACH, check, or credit card), Collect (branded checkout with embedded financing), Convert/Global Payments (128 currencies to 180+ countries), Store/Wallet (multi-currency digital wallet with local USD accounts), Credit Hub (trade credit management with configurable scorecards and real-time risk monitoring), and Sync (2-way accounting integration). Customer segments include importers (primary), freight forwarders and brokers, software providers, and general B2B businesses — accessible via no-code, low-code, or API integration tiers.
The platform is built on a partner-dependent infrastructure stack comprising tier-1 banking relationships (JP Morgan, Barclays, Citibank, Silicon Valley Bank, Column, Nium), the Visa card network, Plaid for bank-data connectivity to 16,000+ institutions, and accounting integrations with QuickBooks, Xero, NetSuite, and Sage Intacct. The business model is primarily transaction-based: revenue derives from payment-processing fees (2.9-3.5% on credit cards with a 1.5% international surcharge), FX spread margins on currency conversions, and financing income from originated working-capital loans — including the KoverlyPay/Pay-in-30 BNPL offering for US payers that defers FX payments 30 days free with extensions to 12 weeks. The company has raised approximately $26.5 million across a $7.6M seed round (August 2023, led by Accomplice with One Way Ventures and Vinyl Capital) and a ~$18.95M round in July 2025; it processes approximately $200M in annual volume with stated plans to originate $70M in new loans.
Koverly firmographics
Firmographics- Name
- Koverly
- Legal name
- Koverly Inc.
- Website
- https://koverly.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Koverly is a US-based B2B payments and embedded financing platform that helps importers, freight forwarders, brokers, and software providers send cross-border payments in 128 currencies, manage FX risk, and offer BNPL payment deferral through white-label integration.
- Ownership category
- akta.pro rank
Koverly industry classification
Industry- Product category
- B2B Payments & Cross-Border Trade Finance Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Activities Related to Credit Intermediation (5223), Other Nondepository Credit Intermediation (52229)
- SIC
- Short-Term Business Credit Institutions (6153), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
- akta.pro secondary industries
- International / Cross-Border BNPL & Multi-Currency POS Financing (FSAGAIAN), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Open Account Trade Finance (Receivables/Payables Finance) (FSABAHAB)
Keywords
Where Koverly is headquartered
LocationHeadquarters
- HQ city
- Waltham
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Koverly business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Payment Processing Fees: Koverly charges fees at the time of payment submission for processing ACH, credit/debit card, and wire transfers. The platform also charges 2.9-3.5% for credit card transactions with a 1.5% surcharge for international cards.
- Foreign Exchange Margins: Revenue generated through FX rate margins on currency conversions, with claims of saving up to 50% on exchange rates and no wire transfer fees up to $40 savings per transaction.
- Credit/Financing Services: First 30 days are free for FX payments through KoverlyPay, with the platform originating loans and generating revenue through the financing arrangement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard payment processing |
| Transaction based/ take rate | Pay-as-you-go | FX Payment Deferral (KoverlyPay) |
| Transaction based/ take rate | Pay-as-you-go | Global Transfers |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels3 records
Koverly product offering
Product offeringCore offering
Koverly is a B2B payments platform that enables businesses to send and receive cross-border payments in 128 currencies across 180+ countries, hold funds in a multi-currency wallet with local USD accounts, manage trade credit risk via Credit Hub, and access embedded financing through KoverlyPay BNPL (30-day free FX deferral, extendable to 12 weeks). It serves importers, freight forwarders, and software providers with no-code, low-code, and API integration options and two-way accounting sync to QuickBooks, Sage Intacct, Xero, and NetSuite.
Product overview
Koverly is a unified B2B payments platform offering a modular product portfolio centered on cross-border payments and embedded financing. The core platform consists of Koverly Pay (vendor payments via ACH/check/credit card), Collect (online payment acceptance with embedded financing), Convert/Global Payments (128 currencies to 180+ countries with favorable FX rates), Store/Wallet (multi-currency wallet with local USD accounts for free global transfers), Credit Hub (trade credit management with risk scoring and automated decisioning), and Sync (2-way accounting synchronization). These are complemented by embedded financing options including KoverlyPay and Pay in 30 (BNPL for FX deferral up to 12 weeks), plus embedded B2B checkout for software providers.
Differentiator
Problem solved
Functional benefit
Brands
- KoverlyPay: A BNPL solution that allows businesses to defer foreign exchange payments at no extra cost and offers flexible installment options for up to 30 days, extendable to 12 weeks.
- Credit Hub
- Koverly Wallet
Products and services
- Koverly Pay Digital bill payment solution that lets businesses pay vendors via ACH, check, or credit card with flexible payment options and scheduled FX rates. Designed for finance and AP teams at importers and B2B companies that need to settle supplier invoices across currencies.
- Credit Hub Trade credit management platform that enables faster customer onboarding, risk prediction, and real-time credit decisioning with configurable scorecards and automated workflows, using continuous monitoring across bank, bureau, and A/R signals.
- Collect
Quantifiable outcome
- Save up to 50% on FX rates
- +4 more outcomes
Companies that use Koverly
Customer profileSegments4 records
Ideal customer profiles3 records
Koverly technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature7 records
Koverly partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and minor.
- JP MorgancoreBanking partner providing financial infrastructure for Koverly's global payment services
- BarclayscoreBanking partner providing financial infrastructure for Koverly's global payment services
- CitibankcoreBanking partner providing financial infrastructure for Koverly's global payment services
- Silicon Valley BankcoreBanking partner providing financial infrastructure for Koverly's global payment services
- VisacorePayment network partner enabling credit card and digital payment processing
- PlaidcoreBank data connectivity provider enabling account verification and financial data integration
- QuickBookscoreAccounting system integration for 2-way sync of bills, payments, customers and vendors
- XerocoreAccounting system integration for 2-way sync of bills, payments, customers and vendors
- NetSuitecoreAccounting system integration for 2-way sync of bills, payments, customers and vendors
- Sage IntacctcoreAccounting system integration for 2-way sync of bills, payments, customers and vendors
- ColumncoreBanking infrastructure partner for payment processing
- NiumcoreBanking infrastructure partner for global payment capabilities
- WCA WorldminorWorld Cargo Alliance - freight forwarding industry network partnership
- NCBFAAminorNational Customs Brokers & Freight Forwarders Association of America - industry association partnership
- Airforwarders AssociationminorAir Freight Forwarders Association - industry association partnership for market access
Scale indicators7 records
Recent moves2 records
Expansion highlights5 records
Koverly competitors and assessment
Company assessmentDirect peers
- Wise: Wise is a leading cross-border payments platform offering multi-currency accounts and FX for consumers and businesses. Direct overlap with Koverly's Convert/Global Payments and multi-currency wallet products targeting international SMBs.
- Airwallex: Airwallex provides global business accounts, cross-border payments, and embedded finance APIs to SMBs and platforms. Closely comparable to Koverly in cross-border FX, multi-currency wallets, and embedded payments.
- Bill.com: Bill.com is a B2B payments and AP/AR automation platform for SMBs and mid-market. Comparable to Koverly's Collect, Koverly Pay, and accounting-sync stack focused on digitizing B2B payments.
- Tipalti: Tipalti automates global payables, including cross-border payments and supplier onboarding, with embedded financing options. Direct overlap with Koverly's vendor payment, FX, and embedded-financing capabilities.
- Veem: Veem is a cross-border B2B payments network for SMBs with multi-currency wallet capabilities. Closely comparable in target customer (SMB importers/exporters) and product surface.
- Stampli: Stampli offers AP automation and B2B payments with credit-card-based vendor payments and embedded financing. Comparable vendor-pay and embedded-financing overlap with Koverly.
Broad incumbents
- Brex: Brex offers corporate cards, B2B payments, and treasury/expense management for startups and mid-market. Overlaps with Koverly's B2B payments, credit, and embedded-finance positioning, though broader in scope.
- Ramp: Ramp provides corporate cards, bill pay, AP automation, and procurement for businesses. Comparable in AP automation and B2B payment workflows, though primarily US-focused rather than cross-border.
Emerging players
- Modern Treasury: Modern Treasury provides payment-operations APIs for moving money domestically and internationally. Comparable in API-driven, bank-rail-based cross-border infrastructure, though more developer-facing than Koverly's SMB focus.
Others
- Nium: Nium is a global payments infrastructure provider offering cross-border rails, multi-currency wallets, and card issuing. Listed as a Koverly infrastructure partner; adjacent provider rather than direct competitor, but operates in the same cross-border fintech space.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Koverly social profiles
Digital presenceKoverly compliance and trust
Trust signalCompliance1 record
Koverly financial estimates
Financial estimateRevenue estimate
Valuation estimate
Koverly leadership team
Management profileNumber of profiles
Profiles2 records
Koverly funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Koverly M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Koverly
What does Koverly do?
Koverly is a B2B payments platform that enables businesses to send and receive cross-border payments in 128 currencies across 180+ countries, hold funds in a multi-currency wallet with local USD accounts, manage trade credit risk via Credit Hub, and access embedded financing through KoverlyPay BNPL (30-day free FX deferral, extendable to 12 weeks). It serves importers, freight forwarders, and software providers with no-code, low-code, and API integration options and two-way accounting sync to QuickBooks, Sage Intacct, Xero, and NetSuite.
Is Koverly a public or private company?
Koverly is a private company. It is classified as venture growth investor backed and is currently operating.
When was Koverly founded?
Koverly was founded in 2021. It employs 11 to 50 people.
Where is Koverly based?
Koverly is headquartered in Waltham, United States, in the North America region.
How does Koverly make money?
Three revenue lines are on record. Payment Processing Fees are the primary driver. The others are foreign Exchange Margins and credit/Financing Services.
Who are Koverly's main competitors?
Direct peers on record are Wise, Airwallex, Bill.com, Tipalti, Veem and Stampli. Broad incumbents are Brex and Ramp. Modern Treasury is listed as an emerging player. Nium is listed as an others.
Does Koverly have an API?
No public API is recorded for Koverly.
What industry is Koverly in?
Koverly's product category is B2B Payments & Cross-Border Trade Finance Software. Its primary akta.pro industry code is FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services, with a secondary code of FSAGAIAN, International / Cross-Border BNPL & Multi-Currency POS Financing. Its NAICS code is 522320 and its SIC code is 6153.