“Can a single API bundle FX, cross-border payments, and embedded B2B BNPL for importers and the software platforms that serve them?”
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.
Koverly processes payments through Koverly Payment Services (self-operated). Disclosed money-movement rails: ACH.
Koverly's lending and capital products are provided by Koverly Capital (in-house) and KoverlyPay (in-house).
Koverly connects to bank accounts through Plaid.
Koverly integrates with QuickBooks, Xero, NetSuite and Sage Intacct.
The Embedded Finance Index 2026 maps 5 layers in Koverly's stack: Payments / PSP (Koverly Payment Services (self-operated)); Money movement (ACH); Lending (Koverly Capital (in-house) and KoverlyPay (in-house)); Open banking (Plaid); Accounting (QuickBooks, Xero, NetSuite and Sage Intacct).
Koverly was founded by Igor Ostrovsky (CEO) and Michail Medvinsky (CTO) and is founded in 2020, headquartered in Waltham, Massachusetts, US (office in Concord, MA).
Koverly has raised $27.1M in total (latest round: Venture, 2025).
Get a read on where your own stack stands against Koverly and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.