News

Elenteny and Koverly Partnership

Sep 21, 2022

Elenteny Imports and Koverly Partner to Save Importers on Foreign Exchange

Elenteny Imports and Koverly announce a partnership to bring best in market foreign exchange rates to importers of wine, spirits, beer and cider. 

September 21st – New York, NY – Elenteny Imports, an industry leader in logistics for importers of wine, spirits, and beer, including freight forwarding and compliance, announced today it has entered into a strategic partnership with Koverly, Inc. to provide guaranteed best in market, no fee, foreign exchange rates to Elenteny’s customers.  

The partnership between Elenteny Imports and Koverly leverages modern solutions to create an easier way to do business with the world, bringing unprecedented convenience, predictability and lower costs to the beverage alcohol industry.

Koverly, a foreign exchange and credit payment platform built for importers, follows the mid-market rate, continuously updating  to provide importers guaranteed best in market FX rates - typically saving small to medium-sized businesses $4-$6k for every $1M in foreign currency purchases.

“Partnering with Elenteny Imports enables Koverly’s technology to be leveraged by a segment of importers that have been significantly impacted by Covid and subsequent supply chain issues,” said Igor Ostrovsky, Founder and CEO of Koverly. “We are proud to not only help these importers improve efficiencies and save on FX, but also provide them with highly needed credit solutions to help them bring inventory into the United States and increase profitability.” 

Koverly’s platform provides Elenteny’s importers with online global payment tools, including:

  • Real-time, foreign exchange rates and no wire transfer fees
  • Online money transfers in over 70+ currencies to 110+ countries
  • Option to lock in current FX rates for future payments
  • 30–day interest-free credit line for FX purchases with option to extend payment terms for up to 24 weeks  (KoverlyPay approval required)

“Elenteny Imports is pleased to partner with Koverly to provide the guaranteed best FX exchange rates as well as providing our customers with a free 30 day interest free extension on payments to their suppliers.  We are excited to extend our portfolio of services to our customers on a simple and easy to use platform,” Tim Elenteny,   Founder of Elenteny Imports.

About Elenteny Imports 

Founded in 2010, Elenteny Imports is a B2B logistics company servicing US Importers and wine, beer, and spirits brands looking for a modern approach to alcohol distribution in the US. We are the 55th largest importer in the U.S.  Elenteny helps hundreds of companies navigate the three-tier system to easily expand their market reach, guaranteeing all of the details between initial order and final sale, allowing importers and brands to focus on what makes them grow: sourcing and sales. For more information, please visit www.elentenyimports.com

About Koverly

Founded in 2020, Koverly is a foreign exchange and credit payment platform built for importers. A modern financial technology solution that specializes in foreign exchange, business credit services and integrated web-based accounting tools, Koverly provides businesses with a single platform to manage their global and local payments. Koverly provides real-time foreign exchange rates in over 70 currencies for global payments to over 110 countries. In 2022, Koverly introduced a business credit line called KoverlyPay, enabling approved companies to get more time to pay invoices - Koverly pays invoices on time and the user pays Koverly over time in weekly installments through the payment plan of their choice. Koverly users can transfer money online via ACH, credit card or KoverlyPay. www.koverly.com 

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