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.
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
