Okeo

What Okeo does

Okeo Payments UAB is a privately held Lithuanian Electronic Money Institution, licensed and supervised by the Bank of Lithuania under EMI License No. 71 (BIC: OKEOLT22XXX). Headquartered in Vilnius, the company provides a unified online banking and cross-border payments platform for businesses, issuing IBAN accounts, multi-currency wallets in EUR/USD/GBP/PLN, and executing SEPA, SEPA Instant, local express (Poland, Czech Republic), and SWIFT-based international payments in 15+ currencies to 30+ countries across the EEA, UK, Switzerland, China, Hong Kong, and Singapore. Its core product surface includes customizable business IBANs, virtual IBANs for payment segmentation and reconciliation, multi-entity account management for holding companies, advanced role-based team management, fixed-margin 24/7 currency conversion, and a Verification of Payee service for SEPA fraud prevention. Target customers are SMBs engaged in import/export, trade, manufacturing, transport, shipping, marketing, consulting, legal, IT services, and holding companies, plus a BESPOKE segment requiring mass payment collection and high-volume processing.

The platform is built on a cloud-native IT architecture hosted on Google Cloud Platform with automatic encryption, two-factor authentication via SMS-based Strong Customer Authentication, and remote paperless identity verification delivered by Ondato UAB for AML-compliant onboarding across 31 EEA/UK/Switzerland jurisdictions. Okeo participates directly in SEPA, SEPA Instant, and CENTROlink settlement systems operated by the Bank of Lithuania and connects to SWIFT for international wires, allowing it to route payments without correspondent intermediaries and to settle SEPA Instant transfers in seconds. Distribution is fully digital: self-service online onboarding at join.okeo.com, a 'My OKEO' internet banking portal at my.okeo.com, a developer portal at developer.okeo.com, and direct sales engagement for BESPOKE/enterprise contracts.

The company monetizes through three subscription tiers — ESSENTIAL at €15/month, PLUS at €100/month, and BESPOKE on custom multi-year contracts — augmented by per-transaction fees on SEPA (€1.00-€2.50) and express payments (€1.00-€20.00), currency-conversion margins of 0.50% to 0.60% applied 24/7, account opening/verification fees of €25, and account top-up fees (e.g., GBP and USD self top-ups on certain tiers). A promotional pricing experiment titled 'Use More. Pay Less,' introduced in August 2025, waives the ESSENTIAL monthly fee for customers maintaining a €500 minimum balance and executing at least one outgoing payment per month. Client funds are held in segregated accounts at trusted European banks, and the firm operates with a small 1-10 employee headcount, no publicly disclosed funding, and no parent company or institutional investor disclosed in available source material.

Name

Okeo

Legal name

Okeo Payments UAB

Website

https://okeo.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Okeo Payments UAB is a Vilnius-based Electronic Money Institution licensed by the Bank of Lithuania, providing SMBs with multi-currency business accounts, SEPA and SEPA Instant transfers, and cross-border payments in 15+ currencies to 30+ countries across the EEA and Asia.

Ownership category

akta.pro rank

Product category

Cross-Border Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Commercial Banking (52211)

SIC

Finance Services (6199)

akta.pro industry

PRIMARYFSAMAIAG

Multi-Currency Accounts, Wallets & IBAN Services

Financial & Insurance/Payments & Transaction Processing/Cross-Border Payments & Remittances

SECONDARYFSAMAFAC

Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant)

Financial & Insurance/Payments & Transaction Processing/Account-to-Account (A2A) & Open Banking Payments

SECONDARYCRAFALAG

Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.)

Consumer Products & Retail/E-commerce & Marketplaces/Digital Payment Solutions for E-commerce

SECONDARYFSABAIAB

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Transaction Banking (Cash Management & Treasury Services)

Keywords

• Cross-border payments
• Multi-currency accounts
• Business banking services
• Foreign exchange services
• Payment processing

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Monthly Subscription Fees: Recurring monthly fees based on selected service plan (ESSENTIAL €15/month, PLUS €100/month, BESPOKE custom pricing). Includes account management, team management tools, and core platform features.
2. Transaction Fees: Fees for outgoing payments including SEPA transfers (€1.00-€2.50), Express payments (€1.00-€20.00 depending on currency), and international payments. Account opening fee of €25 for company KYC verification.
3. Currency Conversion Margins: Fixed FX margins on currency conversion, ranging from 0.50% to 0.60% depending on currency pair, applied 24/7.
4. Account Top-up Fees: Fees for account self top-up in certain currencies: Free for EUR/PLN, €1.00 for GBP on PLUS plan, €15.00 for GBP on ESSENTIAL, €25.00 for USD on PLUS plan.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Okeo Payments UAB operates as an Electronic Money Institution providing multi-currency business IBAN accounts and cross-border payment services for businesses. Its core offering includes customizable EUR IBAN accounts, multi-currency wallets in EUR/USD/GBP/PLN, SEPA and SEPA Instant transfers, local express payments in Poland and the Czech Republic, international payments in 15+ currencies to 30+ countries, currency conversion at fixed FX margins, and virtual IBANs for payment reconciliation. The platform is delivered as a self-serve, cloud-native solution accessible via a web-based internet banking portal.

Product overview

OKEO is an Electronic Money Institution providing a unified online banking and cross-border payments platform for businesses. The core offering consists of multi-currency business accounts with customizable IBANs that enable cross-border transactions across Europe and Asia. Key products include Business IBAN Accounts, Multi-Currency Accounts, SEPA/SEPA Instant Transfers, Local Express Payments (Poland/Czech Republic), International Payments in 15+ currencies, Currency Conversion with fixed FX margins, Multi-Entity Account Management, Virtual IBANs for mass collection, and Advanced Team Management Tools. The company offers three pricing tiers: okeoESSENTIAL (€15/month), okeoPLUS (€100/month), and okeoBESPOKE (custom pricing). Additionally, OKEO provides an Accumulative Account for companies establishing initial share capital, and a Verification of Payee service for payment fraud prevention. All services are accessible through the My OKEO internet banking platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Business IBAN Account Customizable Euro IBAN account opened in the company's name, enabling businesses to receive international payments and manage cross-border transactions with full transparency. Targeted at businesses in 31 EEA/UK/Switzerland jurisdictions.
• Multi-Currency Account Multi-currency account allowing businesses to hold funds in EUR, USD, GBP, and PLN and to send international payments in 15+ currencies with transparent FX rates and fixed margins available 24/7.
• SEPA & SEPA Instant Transfers EUR payment service across the SEPA zone with automatic selection of the fastest available option—SEPA Instant for real-time settlement or standard SEPA for next-day delivery. Direct network participation eliminates intermediary delays.
• Local Express Payments Fast domestic business payments in Poland and Czech Republic using local payment rails, enabling instant low-cost transfers comparable to local-domestic transfers for businesses operating in those markets.
• International Payments Same-day international payments in 15+ currencies to 30+ countries including the EEA, Switzerland, the United Kingdom, China, Hong Kong, and Singapore, with transparent FX rates and full payment traceability.
• Currency Conversion Multi-currency exchange service converting between EUR, USD, GBP, PLN and 10+ other currencies with fixed FX margins (0.50%–0.60%) available 24/7/365, providing predictable costs without hidden spreads.
• Multi-Entity Account Management Platform capability that enables management of multiple companies, branches, or legal entities from a single secure login, allowing operational segmentation by entity and ensuring compliance across jurisdictions. Designed for holding companies and cross-border businesses.
• Advanced Team Management Tools Role-based access control system for assigning user permissions, approval workflows, and payment limits across organizations ranging from small finance teams to multi-layered regional structures.
• Virtual IBANs Virtual IBAN feature allowing segmentation of incoming payments by customer, region, or business unit—all linked to a single account—for improved cash flow management and reconciliation, particularly suited to mass payment collection use cases.
• Accumulative Account Specialized IBAN account used by companies to pay in initial share capital and establish private limited companies in certain jurisdictions, with a streamlined onboarding process tailored to company formation.

Quantifiable outcome

• FX rates 5x better than traditional banks
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• Ondato UABcoreTechnology or IntegrationOndato UAB provides remote identity verification services for OKEO's online onboarding process. The service enables non-face-to-face identification using photo/image and video-based verification in compliance with AML requirements. OKEO uses Ondato's solution for comparing live photographic data with identity documents.
• Google Cloud PlatformcoreTechnology or IntegrationGoogle Cloud Platform provides cloud infrastructure services for OKEO's operations. Data is stored in secured environment with automatic encryption prior to being written to disk.
• Bank of Lithuania (CENTROLink)coreTechnology or IntegrationOKEO participates in the CENTROlink payment system operated by the Bank of Lithuania for payment processing within Lithuania and EEA.
• European Payments Council (SEPA/SEPA Instant)coreTechnology or IntegrationOKEO is a direct SEPA network participant enabling sending and receiving euro payments through SEPA and SEPA Instant schemes with automatic selection of fastest available route.
• SWIFTcoreTechnology or IntegrationSWIFT network connectivity for international wire transfers and payment messages.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Qonto: European business account provider for SMEs and freelancers with multi-currency support, team permissions and payment rails. Competes with Okeo's PLUS-tier SMB offering.
• Airwallex: Multi-currency business accounts and cross-border payments platform targeting SMBs and enterprises globally. Comparable scale and product overlap with Okeo's international-payments wedge.
• Wise: Global multi-currency accounts and cross-border payments provider for individuals and businesses. Closest comparable to Okeo's multi-currency account + low-cost FX + international payments stack.
• Revolut Business: Business account offering from Revolut covering multi-currency wallets, FX, SEPA/SWIFT payments and team management. Competes head-on with Okeo for European SMBs.
• Statrys: Hong Kong-headquartered multi-currency business account provider serving Asia-EU corridor with IBAN accounts, SEPA and SWIFT payments. Comparable cross-border SMB positioning.
• TransferGo: Lithuania-rooted cross-border payments provider for individuals and businesses with multi-currency support. Comparable regulatory heritage and EU-focused cross-border positioning.
• Paysera: Lithuania-headquartered EMI providing multi-currency business accounts, SEPA/SWIFT payments and mass-payout services across Europe. Most direct regional comparable given shared Lithuanian EMI regulatory base.
• Finom: European digital business account provider targeting freelancers and SMBs with multi-currency, SEPA payments and team-management features. Direct competitor in the EU SMB segment.
• Wallester: Estonian EMI offering business accounts, virtual IBANs and card-issuance APIs across the EEA. Comparable EMI-licensed, virtual-IBAN-centric product strategy.

Broad incumbents

• Payoneer: Established cross-border payments and multi-currency receiving accounts platform for SMBs, freelancers and marketplaces. Broader geographic reach and deeper enterprise tooling than Okeo.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/OkeoPayments
• Facebookfacebook.com/OKEOPayments
• LinkedInlinkedin.com/company/okeo-payments

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Okeo