Swiss-Israeli fintech start-up Okoora is about to inaugurate a new branch in Limassol. This move aims to facilitate Okoora's launch of operations across the European Union, marking a significant milestone in the company's growth journey.

The Limassol office will be pivotal in Okoora's efforts to acquire key licenses, including an Electronic Money Institution (EMI) license and a Financial Brokerage license. These certifications are crucial for the company to facilitate electronic payments within EU countries and to operate as an authorized European investment company, respectively.

The Cyprus branch will house approximately 30 professionals, specializing in European regulatory compliance, licensing, technological advancements, and marketing and sales.

Okoora's Automated Business Currency Management (ABCM™) platform, a cloud-based system powered by artificial intelligence (AI), is at the core of the company's innovative offerings. Designed to streamline global payments, banking, and risk management, the ABCM™ system offers a comprehensive suite of operational tools. It provides advanced foreign exchange risk management and access to an extensive network of banks and transaction rooms. The platform delivers real-time insights into currency markets, simplifies currency management, and equips businesses with AI tools to mitigate currency risks, giving them greater control over their foreign currency flow.

Since its inception in 2021, Okoora has demonstrated remarkable growth, amassing over 7,000 business customers. The company has a dedicated team of 70 professionals across Israel, Switzerland, Germany, and India, but it plans to double its workforce in anticipation of further European market expansion.