The startup operates a mobile payment platform that facilitates secure and rapid money transfers through integration with Visa, MasterCard, and online banking systems. This service enables users to efficiently send and receive funds internationally, addressing the need for reliable cross-border transactions.
Funding
$7.9M 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
Migrant workers often face high fees and unfavorable exchange rates when sending money to support families back home. Traditional money transfer services can be slow, lack transparency, and involve complex procedures, creating barriers for those who need to send funds quickly and reliably.
Solution
Spoko provides a mobile platform that enables fast and affordable international money transfers, primarily targeting individuals sending funds to Ukraine, Nigeria, and other countries. The platform integrates with Visa, Mastercard, and online banking systems to facilitate secure and rapid transfers directly to bank accounts, debit cards, or mobile wallets. Spoko offers competitive exchange rates and transparent fees, aiming to be cheaper than traditional banks and other financial services. The service supports multiple currencies, including EUR, PLN, GBP, CZK, and SEK, and provides various payment options such as BLIK, Google Pay, and Apple Pay.
Target Audience
The primary target audience includes migrant workers and expatriates residing in Europe and the UK who regularly send money to family and friends in countries such as Ukraine, Nigeria, Georgia, and others.
Features
- Mobile app available on iOS, Android, and Huawei AppGallery
- Supports transfers from 25 European countries and the UK
- Multiple payment methods: Visa, Mastercard, Maestro debit/credit cards, BLIK, Google Pay, Apple Pay, and bank transfers
- Direct transfers to bank accounts, debit cards, and e-wallets in recipient countries
- Real-time tracking of transfers
- Bank-level security with encrypted transfers and fraud protection
- Compliance with EU General Data Protection Regulation (GDPR)
- Two-factor authentication, face recognition, and fingerprint recognition for profile protection
- Multilingual customer support via live chat, email, and phone