Bancoli provides a global business banking platform that enables companies to generate digital invoices and transact in over 50 currencies across 200 countries, enhancing cash flow management. The platform features best-in-class security and automated vendor verifications, addressing the challenges of timely payments and liquidity in international supply chains.
Funding
$10M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses, especially those operating internationally, face challenges in managing cash flow due to delayed payments, currency conversion complexities, and the need to verify vendor legitimacy. Traditional banking systems often lack the speed and transparency required for efficient global transactions, leading to increased operational costs and strained supplier relationships.
Solution
Bancoli offers a global business banking platform designed to streamline international payments and enhance cash flow management. The platform enables businesses to generate digital invoices, transact in over 50 currencies across 200 countries, and access US banking-grade Know Your Vendor (KYV) verifications. Bancoli facilitates faster payments by allowing direct invoicing to clients' bank accounts and incentivizing early payments through automated reminders and rewards. Additionally, users can open bank accounts in 10 currencies and benefit from competitive FX rates, while also having the option to secure USD deposits with backing up to $125 million per account holder.
Target Audience
Bancoli primarily targets businesses involved in international trade, including digital service providers, manufacturers, retailers, and commodity traders, who require efficient and secure global payment solutions.
Features
- Digital invoice generation with multiple payment options, including cards, ACH, wires, and stablecoins
- Global business accounts supporting transactions in 50+ currencies and 200+ countries
- US banking-grade Know Your Vendor (KYV) verifications to mitigate risks in commercial deals
- Automated invoice reminders and rewards to encourage timely payments
- Direct e-invoicing to client bank accounts to reduce friction and manual errors
- FDIC-insured USD accounts with optional Bancoli Vault protection up to $125M per account holder
- Competitive FX rates for currency conversions
- Local bank account details in 10 currencies (USD, EUR, GBP, MXN, CAD, AUD, HKD, SGD, PLN, and CNY)
- Supply chain financing solutions to drive yield and improve supplier relationships