Koverly provides a platform for businesses to manage global payments and receivables with favorable foreign exchange rates and transparent conversion. The service accelerates cash flow by ensuring receivables are received quickly while offering flexible payment terms, including installment plans for buyers. It integrates with major accounting systems to streamline financial reconciliation and maintain compliance.
Funding
$7.6M 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
Traditional cross-border B2B payments involve high foreign exchange fees and can strain cash flow due to lengthy payment cycles. Businesses often lack flexible payment options, hindering their ability to manage finances effectively and compete globally.
Solution
Koverly offers a platform designed to streamline global B2B payments and receivables, providing businesses with tools to send and receive funds internationally. The platform eliminates transaction fees and offers competitive foreign exchange rates, reducing the overall cost of international transactions. Koverly enhances cash flow management by enabling businesses to split payments into fixed weekly installments, providing flexibility and predictability. The platform integrates with major accounting systems, ensuring accurate financial tracking and reconciliation. By expediting receivables and offering flexible payment terms, Koverly aims to improve cash flow for both buyers and sellers in global trade.
Target Audience
Koverly targets importers, exporters, freight forwarders, and other businesses engaged in international trade who need efficient and cost-effective solutions for managing cross-border payments and improving cash flow.
Features
- Fee-free international payments in 128 currencies across 180 countries
- Option to split payments into fixed weekly installments (4, 8, or 12 week increments)
- Two-way sync with accounting systems like QuickBooks, Sage Intacct, Xero, and NetSuite
- Embedded financing options to expedite receivables
- Real-time currency conversion with transparent exchange rates
- Integration with Chain.io network for streamlined digital invoicing and net terms for freight forwarders
- No-code, low-code, and API integration options for customized experiences
- Enterprise-level compliance and security with 2-Factor Authentication and PCI/DSS certification