Okeo
“Can a Lithuanian EMI-licensed neobank win SMB cross-border payment flows from traditional banks by offering multi-currency accounts with FX rates up to 5x cheaper?”
Founded2019
HQVilnius, Lithuania
IndustryFintech / Cross-border payments
The story
Okeo was founded in 2019 in Vilnius as a multi-currency business payments platform targeting SMBs seeking FX rates significantly better than traditional banks. The company operates as an EMI (Okeo Payments UAB) under Lithuanian regulation, enabling it to offer free IBAN accounts and same-day cross-border payments across the EU and beyond. Okeo has expanded its presence to Poland and Brazil, positioning itself as a neobank alternative for businesses with international payment needs.
Last 12 months
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Product timeline
2019
Okeo Payments UAB founded in Vilnius, Lithuania as a multi-currency business payments company.· banking
2022
Okeo partnered with Mambu to deliver multi-currency foreign exchange payments on the Mambu platform.· banking
Regulated entities
EMI
EU (Lithuania)
Okeo Payments UAB
The stack
Accounting gap: significant