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Koverly

“Can a single API bundle FX, cross-border payments, and embedded B2B BNPL for importers and the software platforms that serve them?”

Founded2020
HQWaltham, Massachusetts, US (office in Concord, MA)
FoundersIgor Ostrovsky (CEO), Michail Medvinsky (CTO)
Total raised$27.1M
Latest roundVenture, 2025
IndustryFintech / Cross-border payments
The story

Koverly launched in 2020 to serve US SMB importers with a combined foreign-exchange and short-term credit product. The platform has grown into a broader global B2B payments suite — cross-border payouts to 128 currencies, embedded checkout for freight forwarders and customs brokers, KoverlyPay (Pay-in-4/8/12 B2B BNPL), Credit Hub for customer onboarding, and a USD wallet. Koverly positions itself as a technology company that plugs into partner banks and financing partners rather than holding its own charter.

Last 12 months
2025-08
2026-03
Product timeline
2020
Koverly founded to combine FX and credit into a single B2B payments tool for SMB importers.· pivot
2023
Raised $7.6M seed round led by Accomplice.· banking
2025
Raised $19M venture round.· banking
The stack
6 layers disclosed in Koverly’s embedded-finance stack
Payments / PSP
Koverly Payment Services (self-operated)checkoutglobal payments
Money movement
in the full report
Card network
in the full report
Lending
in the full report
Open banking
in the full report
Accounting
in the full report
Accounting gap: minor
12 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.