What is Spoko?
Spoko Money Transfers operates as a service facilitating instant money transfers across all EU countries at competitive exchange rates. Users can send funds from any VISA/Mastercard or via BLIK code, with recipients able to receive money in Ukraine either in cash or directly to their card. The company is headquartered in London, United Kingdom, positioning itself as a key player in cross-border remittance services.
How much funding has Spoko raised?
Spoko has raised a total of $5.9M across 1 funding round:
Private Equity
$5.9M
Private Equity (2021): $5.9M with participation from Fintech Ventures Fund
Key Investors in Spoko
Fintech Ventures Fund
Fintech Ventures Fund is an early-stage venture capital firm specializing in fintech and insurtech, known for its hands-on support to entrepreneurs. They typically invest between $250,000 and $2 million, focusing on B2B and B2B2C models outside of Silicon Valley.
What's next for Spoko?
The recent major strategic investment indicates Spoko is likely in a growth or scaling phase, aiming to expand its service reach and enhance its platform capabilities. This infusion of capital will probably be directed towards operational expansion, technological development, and potentially new market entries. The company's focus on favorable exchange rates and convenient transfer methods suggests a strategy to capture a significant share of the remittance market, particularly between the EU and Ukraine.
See full Spoko company page
