In our early days, we thought we’d be handling small, ad hoc, international payments, and we have, but some of our clients had other plans. Many started using our platform to make larger payments – primarily investments, and mainly in real estate.
Tired of inefficiencies among banking institutions, investors and investment managers (GPs) began to adopt our solution for faster, more secure capital calls and distributions. To better serve these customers, we turned Covercy into the only online payment solution that can onboard & facilitate large transactions, while fully complying with the strict regulatory requirements we’re bound to. On top of that, we released Terra as a tailored payment platform for GPs. Following this launch, the investments we process skyrocketed to values ranging from $50,000 to over $3M per investor.
Interacting with our customers showed us that 50,000+ small & mid-market GPs fundraise, manage investments, and interact with investors in the same way they have since e-mail entered the scene in the ’90s. While we processed their investment transactions, our GPs gave us an even greater mission. We promise to deliver.
For the past year, we’ve been meeting, learning, planning, building, and we’re so excited to finally share our big secret with you: In the coming weeks and months we’ll gradually roll out an exciting, new platform for GPs and investors. This platform will coordinate the investment lifecycle from fundraising to asset management–all the way to exit. We’ll bring the security and efficiency characteristic of public market investing to the private (alternative) investment space, and become the go-to solution for GPs and investors to manage every aspect of their investments.
Besides the new focus, we are still proud to serve the thousands of individuals and businesses who enjoy better rates, speed, and ease of use when transferring funds overseas with Covercy. Two months ago we announced a major upgrade of our payment platform, which, thanks to your great feedback, we know has made it even easier to pay abroad. To make international payments just like before, click on Transfer Funds on the top-right section of the website.
You can learn more about the exciting stuff we’re doing on the new Covercy.com.
Co-Founder & CEO