SPOKO enters the UK market targeting South Asian migrant workers

By Megha Bhattacharya

International money transfer app, SPOKO, has announced its entry in the UK market, with a focus on South Asian migrants. The company aims to target the migrant workers who are looking to move money without the need for bank accounts and costly transfer payments. The British-Polish FinTech is also seeking partners for integrating its white-label API service.

SPOKO enables users to send money from Europe to their home countries in the local currency, via their mobile, bank account, or a Point of Sale outlet. It offers an extensive payment infrastructure that allows many different local payment methods. The FinTech is also providing an open API to enable financial, telecommunications, or recruitment companies to operate transfer services using a white label model. The company currently works with Ukraine-based PrivatBank and Alfa Bank and has carried out several integrations with international partners such as the British fintech Trust Payments.

Evgeny Chamtonau, CEO of SPOKO, commented, “We have a great understanding of our users’ expectations, their habits, and which form of money transfer is most convenient for their needs. From the very beginning in 2019, we focused on local markets. We started by developing a service for Ukrainians working in Poland, under the PayUkraine brand, and recently passed the 120,000 user milestone. In the UK, we want to attract immigrants from India and Pakistan, who usually send money from their bank account to be received in cash via various Points of Sale. We do not insist that our UK customers necessarily associate their money transfers with our brand SPOKO. The most important thing for us is that they use it!”

Money transfers via SPOKO can already be made from EU countries and the UK to 16 countries. The company aims to increase its operations to 51 countries with money transfer capabilities across 86 countries.