OlehPay Overview
OlehPay is a money transfer platform designed to help users avoid bank fees and unfavorable exchange rates and enable them to get the true middle rate with transparent pricing. OlehPay makes domestic debits in the United States and credits in Israel to allow transfers without bank wire fees.
Cumulative Funding Raised Over Time ($)
$20KJan 2016
Latest News
growth-positive
Finance firm "OlehPay" now free for Lone Soldiers
OlehPay, a remittance platform, is offering free transfers to Lone Soldiers and Bnot Shirut in Israel to support their mental health. The CEO, Joseph Sokol, was inspired to take action after a close friends suicide. KeepOlim, an NGO providing support for new immigrants, highlighted the lack of basic support services for lone soldiers. The Aliyah and Integration Ministry is aware of the issue and working on solutions. Sokol believes that companies like OlehPay should step in to help and treat those who contribute to the well-being of the country. OlehPay allows users to transfer money between US and Israeli banks without fees.
Customers
growth-positive
YULA grad pioneers new way to move money to Israel
OlehPay, a payments website that enables users to transfer dollars to Israeli bank accounts in the form of shekels, is experiencing growth in the online payments industry. The company, founded by 20-year-old Joseph Sokol, aims to solve the problem of poor exchange rates for American immigrants in Israel. Users can create an account, enter the amount they want to pay in shekels, and provide the recipients bank account information. OlehPay charges a 1.99 percent fee on credit card transactions but is free for debit cards. So far, the service has processed nearly $80,000 from about 150 user accounts. Sokol plans to expand the service to other currencies once it is on solid footing.
Customers
| Sector | Fintech & Insurtech |
Funding
| Total funding | $20K |
| Last funding | $20K |
| Stage | Mature |
| Rounds | 1 |
| Investors | 1 |
Team Members
2
Employees: 1-10
Web & Social Links
| Website | olehpay.co.il/ |
| Careers | Careers page |
Locations
Hebron Road 24, Jerusalem, Israel
1875 Century Park East, Los Angeles, CA, USA
Photos & Videos
No files yet
OlehPay Business
Business models
B2C
Product stage
Released
Employees
1-10
Sector
Fintech & InsurtechMoney Transfer & ManagementTarget Customer
ConsumersRecreational & LifestyleTravellers & TouristsDemographics & FamilyProfessionals & Gig EconomyDigital NomadsFreelancersFinancial ServicesFinancial InstitutionsSettlementsCore Technology
Platforms & InterfacesWebAPITags (8)
p2pprofessionalsstudentsonline-retailersfintechpaymentsmobile-applicationsremittancesGeographic Markets
United StatesIsraelOlehPay Financials
$20K
Total funding
Undisclosed
Capital raised
$20K
Last funding
Mature
Funding stage
1
Total rounds
1
Investors
Cumulative Funding Raised Over Time ($)
$20KJan 2016
Private Equity Funding
Pre-Seed
Jan 2016
$20K
Undisclosed Investor(s)
OlehPay Lifecycle
Cumulative Funding Raised Over Time
$20KJan 2016
All Events
Pre-Seed
Jan 2016
$20K
Undisclosed Investor(s)
OlehPay News
2 articles
growth-positive
Finance firm "OlehPay" now free for Lone Soldiers
OlehPay, a remittance platform, is offering free transfers to Lone Soldiers and Bnot Shirut in Israel to support their mental health. The CEO, Joseph Sokol, was inspired to take action after a close friends suicide. KeepOlim, an NGO providing support for new immigrants, highlighted the lack of basic support services for lone soldiers. The Aliyah and Integration Ministry is aware of the issue and working on solutions. Sokol believes that companies like OlehPay should step in to help and treat those who contribute to the well-being of the country. OlehPay allows users to transfer money between US and Israeli banks without fees.
Customers
growth-positive
YULA grad pioneers new way to move money to Israel
OlehPay, a payments website that enables users to transfer dollars to Israeli bank accounts in the form of shekels, is experiencing growth in the online payments industry. The company, founded by 20-year-old Joseph Sokol, aims to solve the problem of poor exchange rates for American immigrants in Israel. Users can create an account, enter the amount they want to pay in shekels, and provide the recipients bank account information. OlehPay charges a 1.99 percent fee on credit card transactions but is free for debit cards. So far, the service has processed nearly $80,000 from about 150 user accounts. Sokol plans to expand the service to other currencies once it is on solid footing.
Customers
Employee Info
| Employees (range) | 1-10 |
| Exact count | 2 |
| Team members | 2 |
Similar Companies
Similar companies data is computed dynamically and not stored in the entity profile. This section requires implementing a similarity query (e.g. by classification overlap, sector, district).
This entity has 16 classification IDs that could be used for matching.
OlehPay Internal
Recent Updates
No update log entries.
Note: Free-text notes visible in the original Finder "Internal" tab are not present in the imported profile data. Only the update audit log is available.
Admin Info
| Confidence | 99/100 |
| Missing | video or image, markets |
| BI Verification | Natalia Golczar |
| Registrar ID | 515259182 |
| Crunchbase | olehpay |
| Phone | +97223762028 |
| Creator | sara iluz |
| Creator email | sarail555@gmail.com |
| Last updater | Paul Weisko |
| Updater email | pweisko@gmail.com |
| Last update | 2021-04-21T00:00:00.000Z |
| Created | 2016-06-05T00:00:00.000Z |
| Claimed | Yes |