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.
Ion Iliescu, Romania’s first president after the fall of communism in December 1989 and one of the country’s most influential and controversial political figures, died on Tuesday, August 5, at the age of 95. His death was announced by the government, which expressed condolences to his family and stated that details regarding the state funeral […]
A large medieval cemetery was discovered this week at the Hasdeu High School in Lugoj, western Romania. The complex may have extensions into the surrounding yards and a high historical importance. Although the excavations are only just beginning, with an estimated 10% of the necessary work completed so far, the discoveries have already showed promise. […]
A trilateral working meeting for the creation of a regional cybersecurity alliance between Romania, the Republic of Moldova, and Ukraine took place on July 30 in Chernivtsi, Ukraine. The establishment of such a union would boost Romania's role in region. "The National Cybersecurity Directorate considers that the initiative to establish a cybersecurity coalition between Romania, […]
Two Dacian gold bracelets from the collection of the National History Museum of Romania (MNIR) have been recently 3D scanned as part of a digital preservation project highlighting these exceptional archaeological pieces. The initiative, launched by the museum, aims to showcase the artistry and cultural significance of Dacian goldsmithing. Crafted with remarkable skill, the spiral-shaped […]
Arad, a city in western Romania dubbed the “Little Vienna,” will organize a celebration of its history and culture in the Austrian capital, between August 8 and 20. The Days of Arad Culture begin on August 8 with the photo exhibition "Arad of Yesterday and Today," which will highlight the architectural connection of the city […]
In a report published on Tuesday, August 5, the Group of States against Corruption, or GRECO, said that Romania has fully implemented two of the 26 recommendations made in the 2023 Fifth Round Evaluation Report on preventing corruption and promoting integrity among top executive functions of the central government and law enforcement. Out of the […]
