Kapaga

Launched in September 2020 by Russian Ekaterina Dorofeeva, Kapaga offers B2B payment services designed to serve the globalized market of small and medium-sized businesses and startups. The startup's cloud architecture offers companies transparency and efficiency in optimizing cross-border payments, allowing them to send and bill 190 + countries in numerous currencies through one secure and optimized application.

History

2022

Finom acquired Kapaga for $1.9 million

On November 9, 2022, Finom, an online financial services company for small and medium-sized enterprises (SMEs), acquired the cross-border payment technology Kapaga in a deal worth at least £10 million ($11.4 million).

The merger will allow Finom to combine separate paytech services for freelancers, medium-sized firms and corporate clients across the UK and Europe, and will also boost the company's expansion.

Neobank Kapaga created by Russians sold to Dutch financial group

{{quote 'Finom co-founder Kos Stiskin says: Entrepreneurs and freelancers are the backbone of the European economy, producing $8 trillion. per year, but expensive and time-consuming bureaucracy does not allow them to run their business as efficiently as possible. }} Stiskine says that by combining Kapaga with Finom, the new organisation will offer an SME product that meets all the banking needs of our customers. Finom argues that Europe's November 2022 financial services B2B market for SMEs is underserved, with only 3% of European SMEs using digital platforms to manage their finances, "highlighting the gap in the market" and most still relying on traditional banks. Finom's mobile platform includes financial management products such as electronic invoices, Single European Payment Area (SEPA) transactions, and digital wallets in a back-office solution.

Kapaga, as indicated on the startup's website, is a trademark of neobank Finadvant, founded by Ekaterina Dorofeeva and Leonid Pruzhansky. Founded in 2020, Kapaga's cloud architecture offers companies "transparency and efficiency" in optimizing cross-border payments, enabling them to send and bill 190 + countries in numerous currencies through a single and secure application process.

{{quote 'Ekaterina Dorofeeva, founder and CEO of Kapaga, comments: Currently, there is no continental fintech player who equally serves the UK and Europe, focusing on small and medium-sized businesses - until now. This merger reinforces the two companies' commitment to providing customized payment services for the entire continent^[1] }}

Raising £1.5m investment

On May 27, 2022, Kapaga, a cross-border payments platform for small and medium-sized enterprises, raised $1.9 million in funding. The round was led by Target Global, with the participation of a number of angel investors specializing in investments in the fintech sector.

Many small and medium-sized enterprises do not have access to modern payment infrastructure or are rejected by traditional financial service providers, which very severely limit the types of solutions they can offer to their customers. By targeting this underprivileged segment of start-up businesses, Kapaga has gained the trust of over 150 customers by enabling them to scale their business internationally and contributing to the overall success of the company.

With a team of more than 20 employees who work remotely around the world, Kapaga will expand its operations across the EU in the summer of 2022. This will allow Kapaga to continue to develop its platform, as the company plans to introduce the practice of making large international payments and issuing virtual cards.

We are pleased to offer our customers an unmatched experience when it comes to access to a reliable and transparent tool for cross-border payments, "she said. Dorofeyeva Our value lies in the ability to remove barriers to opening bank accounts for business and offer payment services at a lower price than conventional banks and traditional providers. We aim to connect and activate customer services in less than 48 hours, from start to finish.

All of this is now available through one app and one dashboard to control your payments, she added.[2]

Notes

Шаблон:Remarks