🇵🇱🇬🇧Spoko

Sector: FinTech / Cross-border Payments / Mobile Transfers  Type: Early-stage startup  Headquarters: London, United Kingdom (with operations in Poland)  Founded: 2017  Founders: Evgeny Chamtonau, Aliaksandr Horlach  Website: spoko.app

Overview

Spoko is a mobile-first financial technology company offering instant international money transfers with a focus on simplicity, speed, and affordability. Designed primarily for migrant communities, Spoko enables users to send funds across borders in just 2–3 minutes, using a wide range of payment and delivery methods. The platform is especially popular among users transferring money from Europe to countries in Africa, Asia, and Eastern Europe.

Product Highlights

• Spoko App: A mobile application for iOS and Android that facilitates real-time money transfers to over 50 countries.
• Instant Delivery: Transfers are typically completed within 2–3 minutes.
• Flexible Payment Options: Supports Visa, Mastercard, IBAN, Blik, Google Pay, and Apple Pay.
• Multiple Delivery Methods: Funds can be received via bank accounts, debit cards, cash pick-up, or mobile wallets.
• Security: Transactions are protected with 3D Secure, multi-factor encryption, and 24/7 monitoring.
• Competitive Rates: Offers interbank exchange rates, often more favorable than traditional banks or legacy remittance services.

Funding & Growth

• Total Funding Raised: Approx. $6.95M
• Latest Round: Series A ($5.92M) in April 2021, led by Fintech Ventures2
• User Base: Over 1 million customers globally
• Previous Name: Operated under the name PayUkraine before rebranding to Spoko

Business Model & Market

Spoko operates on a B2C model, targeting underserved migrant populations seeking fast, low-cost alternatives to traditional remittance providers. Its mobile-first approach and transparent pricing have positioned it as a strong challenger in the cross-border payments space.