Koverly is a B2B payments platform that aims to empower businesses with cash flow to improve profitability by providing tools to save time managing payments and receivables. The platform helps companies save on transaction and foreign-exchange fees, get more time to pay, and receive funds through a single online interface. Koverly offers customized underwriting of up to $500,000 determined within 24 hours without affecting applicants’ credit scores, and integrates KoverlyPay payment deferral options into checkout flows. It has introduced a BNPL solution that gives a 30-day FX payment extension at no cost to buyer or seller and allows further extensions over four, eight, or 12 fixed weekly installments. The company currently processes $200 million in annualized volume for domestic and international payments and is targeting $70 million in new loan originations over the next year. Koverly was founded in 2021, is based in Waltham, MA, and is led by CEO Igor Ostrovsky.

Total raised

$8M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2023