“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?”
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.
Okeo discloses Mambu as its banking provider, according to the Embedded Finance Index 2026.
Okeo does not disclose a bank charter of its own; its banking services are provided through Mambu.
Okeo's lending and capital products are provided by Mambu.
The Embedded Finance Index 2026 maps 2 layers in Okeo's stack: Banking / BaaS (Mambu); Lending (Mambu).
Okeo is founded in 2019 and headquartered in Vilnius, Lithuania.
Get a read on where your own stack stands against Okeo 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.