Koverly joins the portfolio
Koverly is a B2B cross-border payments & financing platform for global trade.
We are pleased to announce that Koverly has joined our portfolio following the close of a US$8 million Series A round led by Viola, with participation from FRAMEWORK.
Based in Massachusetts, Koverly is transforming global payments for businesses in international trade by providing seamless transactions and financing solutions for importers and freight forwarders.
Cross-border B2B payments remain slow, expensive, and manual. Importers face costly currency conversions, limited access to flexible payment terms and working capital, and inefficient global payment processes, while vendors and freight forwarders encounter delays and manual reconciliation when collecting payments across currencies.
Koverly addresses these pain points by unifying global payment workflows into a single platform for all stakeholders. Koverly provides importers with centralized payment management and pay-later options while reducing currency conversion costs through zero-fee FX and automated accounts payable tools. At the same time, it enables freight forwarders to collect payments instantly in their preferred currencies, streamlining receivables and improving customer experience.
We are excited to partner with Igor Ostrovsky (CEO) and Michail Medvinsky (CTO), and the rest of the Koverly team, as they simplify and modernize cross-border B2B payments for global trade. This investment supports Koverly’s continued growth as the company launches new product, expands its sales team and deepens its global reach among importers and freight forwarders.
- Koverly website: https://www.koverly.com/
- Koverly on LinkedIn: https://www.linkedin.com/company/koverly/