Case Study: Covercy achieves scalable, transparent, low-cost global payments with Microsoft Azure

Using the cloud for transformative financial services that turn on a dim

Covercy is a UK–Israel fintech that provides affordable, transparent international money transfers for small businesses and individuals, supporting 25 currencies with a 15‑person team. The company set out to disrupt costly, opaque bank transfers (and the SWIFT-driven intermediary fees) by connecting directly to foreign‑exchange dealing rooms and local bank networks, but needed a highly scalable, secure platform to operate globally and meet regulatory requirements.

Covercy built its platform on Microsoft Azure (Cloud Services, SQL Database, Storage) and uses Power BI for real‑time analytics across R&D, marketing, and operations. Launched after Microsoft Accelerator in 2015, the solution enables 24–48 hour transfers at a fraction of bank fees, supports service from 16 countries, drives ~40% monthly transaction growth, and lets a small distributed team scale globally, move faster, and guarantee competitive rates without heavy manual overhead.

Covercy

Gonen Tiberg

Chief Technology Officer