# Koverly

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/koverly

- Industry: Financial Services
- Headquarters: Concord, US
- Website: www.koverly.com
- Total disclosed funding: $7.6M
- Latest round: Seed (Aug 22, 2023)
- Investors on record: 3

## About

Founded in 2020 and based in Massachusetts, US, Koverly Inc. operates as a developer of a financial technology platform that provides digital payment solutions for customers. Igor Ostrovsky (CEO) and Michail Medvinsky (CTO) are the co-founders of the company. In August 2023, Koverly Inc. raised USD 7.6 million in seed funding from Accomplice, One Way Ventures, and Vinyl Capital.

The company's product suite is designed to streamline financial operations for businesses, including bill pay, which ensures bills are paid on time with Koverly's flexible payment options; get paid, which allows clients to receive payments from clients and customers, improving cash flow; and KoverlyPay, which optimizes global payments with competitive exchange rates and tailored payment schedules.

In addition, Koverly also offers global payments, which make secure international payments in over 100 currencies, and accounting, which seamlessly integrates financial data with users accounting systems for record-keeping. The firm offers solutions for forwarders and customs brokers, service providers, and software platforms.

The startup generates revenue by providing financial flexibility to businesses by offering competitive foreign exchange (FX) rates with fees of 1.5% for every 30 days of usage, and its payment scheduling options include pay now, pay in 30 days, and pay weekly, giving businesses the flexibility to choose their preferred payment schedule.

The organization plans to use the August 2023 funding to support its growth.

## Funding rounds

- Seed, Aug 22, 2023, $7.6M — Accomplice, Vinyl Capital, One Way Ventures

## Investors

- Accomplice (https://capitalatlas.ai/funds/accomplice) — Seed
- Vinyl Capital (https://capitalatlas.ai/funds/vinyl-capital) — Seed
- One Way Ventures (https://capitalatlas.ai/funds/one-way-ventures) — Seed