Okoora makes Top 250 fintech list for 2024 by CNBC/Statista

An achievement for fintech startup Okoora, which developed an AI-based cloud platform for managing global payments, banking and risk management. The company was selected for CNBC/Statista's list of the world's leading fintech companies for 2024.

The CNBC/Statista list of top fintech companies is one of the most prestigious ranking lists in the technology industry in general and in the fintech field in particular. It honors and recognizes companies that have significantly contributed to the transformation and innovation of the financial services industry through technology. The selection process is carried out by analysts who examine thousands of companies and is based on strict tests of indicators such as the business model, revenue growth, the scope of users, the degree of innovation of the company and its impact on the fintech ecosystem.

The companies selected for the list are pioneers in areas such as mobile payments, AI and data analytics. Along with the impact on the market and the technological strength, the choice of companies indicates their competitive advantage in the rapidly developing fintech market. Innovative fintech companies are revolutionizing money management, the methods of operation of traditional banks and renewing the face of the world of finance. In 2023, some of the most important fintech companies in the world were included in the list, among them: Ant Group, Tencent, PayPal, Stripe, Klarna and Revolut.

Okoora has developed an integrated platform for businesses that work in an international trade environment (Cross-Border) and unlike other payment and banking companies, it offers a unique model that provides operational tools that every business needs, such as: accounts, wallets, conversions, payments, flow management, invoices and more, along with tools Built-ins for currency risk management that Okoora uniquely provides. The platform - ABCM™: Automated Business Currency Management, based on artificial intelligence, is connected to a very large network of banks, clearing houses and transaction rooms, which allows the company's customers to receive the best price for each transaction at any given moment, when AI tools work continuously to detect opportunities and threats in the changing environment of exchange rates. The platform helps businesses of all sizes and types navigate their way confidently in the global market. 

In February 2024, Okoora announced that it had achieved cumulative savings for businesses in Israel of over NIS 11 billion in international foreign exchange transactions since it launched ABCM™, with most of the savings achieved during the year 2023. In this year, Okoora recorded an 83% growth in the number of customers, as well as an increase of 465 % in the payment transactions carried out by its customers and a 161% increase in the amount of protection transactions against exchange rate fluctuations. 

The company operates globally in several target areas, including Israel.  Okoora recently announced an entry into the Polish market, which includes the establishment of sales offices, a marketing and customer service team, as well as an R&D center that will support further product development. This market will be a break-through point into the European market. 

Benny Avraham, founder and CEO of okoora: "Choosing us for one of the world's most prestigious lists of leading fintech companies is an important milestone and above all recognition of the unique solution we offer to the market. There are endless payment or online banking companies, but none of them handle a core component that almost every business needs: currency risks. We took a very complicated field and managed to simplify and make it accessible in a way that becomes natural for companies and businesses of any size. The value we provide to a client working in a global trade environment is tremendous and unparalleled. We thank you for choosing us, continue with all our strength and add customers and partners from all over the world to the amazing ecosystem we have built."  

Okoora was founded in August 2021 by Benny Avraham, founder of the Ofakim Group, the leading financial risk management company in Israel.

The company is run as a bootstrap without investments from external investors. Since the launch of the platform in January 2022, Okoora has registered significant growth and has accumulated over 15,000 registered customers. Okoora employs about 100 professionals in Israel, Switzerland, Germany, Cyprus, Poland and India and is recruiting additional employees to support its growth.