iBanFirst, a leading provider of forex exchange and international payments for businesses, present in 10 European countries, achieved remarkable growth in Romania during 2024, as Romanian businesses increasingly turned to digital solutions to power their international operations. The company’s Bucharest office recorded €1.38 billion in international transaction volume, representing a 75% year-over-year increase. International payments through the platform rose by 42%, while foreign exchange deals increased by 57% during 2024. "Our exceptional growth in Romania over the past year has surpassed our expectations," said Alin Latu, Country Manager iBanFirst Romania. "Romania is one of our most dynamic growth markets across all key metrics, reflecting the strong appreciation for our blend of cutting-edge technology and local expertise. We remain committed to empowering Romanian businesses in their growth journeys, offering them the financial tools and tailored expertise they need to thrive internationally." iBanFirst's success in the Romanian market stems from its unique combination of state-of-the-art technology and local expertise. Through iBanFirst's digital platform, businesses can conduct fast and secure international transactions in over 30 currencies at lower costs, while tracking payments in real-time. Complementing this advanced platform, companies benefit from a team of Romanian-speaking forex specialists, deeply familiar with regional market conditions, business practices, and client needs. These experts work closely with SMEs to develop tailored hedging strategies and provide business advice, enabling them to protect profit margins and maintain competitive pricing in global markets. This powerful blend of digital innovation and personalized expertise has proven especially valuable for Romanian businesses navigating the challenges of international trade. iBanFirst Romania’s revenue growth in 2024 was driven by a balanced mix of services, with international spot payments representing 65% of total revenue, while hedging solutions accounting for 35%. International spot payments, used for immediate foreign exchange transactions, reflected businesses’ need for operational flexibility. SMEs relied on this service to seize trade opportunities in dynamic markets, meet urgent payment deadlines, maintain supply chain efficiency, and adapt quickly to market changes. Hedging services highlight a strategic shift among local businesses toward proactive risk management. These solutions allowed companies to protect themselves from FX fluctuations, plan costs and revenues with greater precision, secure stability in long-term contracts, and focus on sustainable growth. This dual approach empowered Romanian businesses to remain competitive, resilient, and ready to capitalize on opportunities in a challenging global market. In 2024, iBanFirst Romania onboarded nearly 300 new business clients, increasing its total client portfolio by 47% to over 500 SMEs. These new partnerships generated €2.18 million in annual recurring revenue, underscoring the rising demand for digital financial services in Romania’s international trade sector. Last year, iBanFirst Group generated €65 million in revenue, representing a 30% increase from the previous year. In 2025, the fintech plans to expand its operations by opening offices in two new countries.
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Roughly 84% of Romanians say that the pace of the state’s digitalization is slow or very slow, according to an Edge Institute & AtlasIntel study presented at the Digital Governance Summit 2025, which took place on Tuesday, November 25, at the presidential palace in Bucharest. The survey aims to capture the way citizens relate to […]
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Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
