Okoora reaches 15,000 customers, continues scaling
Okoora is experiencing rapid growth as our company establishes the ABCM platform as the dominant solution of its type in the Israeli market and for our expansion into European markets.
Exponential growth at okoora
Growth has been rapid. One year after launching ABCM in January 2022, okoora had 7,000 customers. Today, okoora customers number over 15,000.
Not only has the number of customers expanded significantly in a short time, but so has the number of payment transactions and hedge transactions processed. The former grew 465% in one year, while the latter jumped 161% in the same period.
The speed of okoora’s growth is undoubtedly assisted by a fanatical focus on the customer and the breadth and simplicity of our product offering. With the ABCM platform and the Banking as a Service API suite it is easy to:
- Open digital wallets that can hold multiple different currencies
- Send and receive payments in 100+ currencies
- Opening fee-less accounts virtually anywhere
- Receive the most competitive foreign exchange rate quotes based on the expanded liquidity okoora has access to through its connections with banks and other trading rooms.
- Managing currency risks and cash flows, protecting businesses from the high costs of currency conversion and the negative impact of currency value fluctuations
- Hedging currency exchange rates to allow companies to mitigate the impact of an adverse move in the exchange rate
- And more
Retaining our core values
Thanks to our wonderful team at okoora we have been able to get this far as they continue to achieve goals and think one step ahead. As okoora continues to scale its operations at a rapid pace, our team intends to retain its obsession with the customer, their experience and their needs. We will also strive to maintain a level of simplicity to ensure our products are easy to understand for a global audience of businesses of all sizes even as we expand our product portfolio.
Practical application of core values
Our App Marketplace is great example of both goals expressed in product. The marketplace allows us to provide complementary value-added services that ABCM customers want as add-ons to whatever ABCM plan they have. It adds functionalities that many customers want but not all need using the familiar concept of an app marketplace, while keeping the core functionalities offered under the subscription plans simple, and easy to understand.
We expect that the App Marketplace will deepen existing users use of the ABCM platform, further boosting the number and volume of payment transactions and hedging transactions processed, irrespective of the continued growth in the number of users.
Stay tuned!
Expect more exciting announcement related to okoora’s expansion later this year. Until then, thank you to our team and users and onwards to 30,000 customers!