Sepaga EMI, is a Canadian-owned Electronic Money Institution founded in Cyprus in 2015. The company offers its clients wallet accounts and an online portal where they can transact globally – faster and cheaper. It is licensed by the Central Bank of Cyprus and officially begun operations in 2017.
At the moment the company serves only corporate clients and has close cooperation with lawyers and accountants as they resell Sepaga’s products to their own clients. “Our clients can be local shops that need easier and faster payments, medium-size enterprises or even large organizations. We are also able to serve licensed industries such as forex, gaming and the adult industry” said Ms. Elena Kontou, CEO of Sepaga EMI. “Nevertheless, we are a stable institution as we are not involved in loans and credits and we oblige to the same requirements by the Central Bank as traditional Banking Institutions do, such as monthly reports, inspections, internal and external auditors” she explained.
As a fintech company, technological advancement is at the core of its strategy. “A large part of our capital goes to R&D and technology. Everything we use is internally developed and used exclusively by Sepaga EMI” Kontou highlighted.
“A large part of our capital goes to R&D and technology. Everything we use is internally developed and used exclusively by Sepaga EMI”Ms. Elena Kontou, CEO of Sepaga EMI
Having successfully cruised through the COVID-19 pandemic, Sepaga EMI eyes more expansion and double growth for the next years. “Our technological capabilities helped us during the pandemic as we were able to work remotely from day one without any software installations and training. We were not affected at all by this. On the contrary, we increased our clients during the pandemic” said Kontou.
The team of Sepaga EMI currently employs 15 people in Cyprus and plans to double its team and expand regionally. New technology is to be launched by the end of this year and the young fintech company is poised to become a main player in the electronic money industry.