Case Study: Covercy Solves Scaling Challenges with Adraba
International Bank Transfer startup Covercy found itself growing quickly, but didn’t have the time to source the right talent. It decided to reach out to Adraba to see how much time and resources they could save by using an extended team engagement instead of sourcing, hiring, and possibly firing an additional dev team themselves. Since working with Adraba, Covercy has been able to scale to meet customer needs and secure additional investor funding.
Covercy is an innovative firm in the Financial Market specializing in online international bank transfers. Their powerful technology makes it simple for businesses to get low currency exchange rates and therefore save money on their cross border payments.
Based in Israel, Covercy provides online, international money transfer and foreign currency exchange solutions. It ensures transparency and helps its customers avoid hidden charges. It targets small- to medium-sized payments and allows its users to make payments to any country in 21 currencies. Covercy serves its customers in the EU member countries, the United Kingdom, and Israel. It was founded in 2014.
Embracing Extended Team Engagement
In 2015, Covercy realized their current development resources weren’t enough to meet growing demand from users. Making matters more complicated, the company needed to achieve this growth if it were to secure the next round of investor funding and thus continue operations.
The management team realized the time it would take to search for an entire development team would simply be too long. Plus, shifting focus from day-to-day tasks associated with a startup to HR and administrative tasks was simply not an option for company leadership. With the future of their business potentially at risk, they needed a faster, more affordable solution that would allow the company to grow without pulling key team members away from their duties.
Finally, Covercy leadership turned to Adraba for help.
“We turned to Adraba when our software team needed to scale quickly,” says Doren Cohen, Covercy CEO. “It was hard to find the right talent. My managers were very pleased with the calibre of the software developers and QA engineers who joined the team.”
My managers were very pleased with the calibre of the software developers and QA engineers who joined the team. They delivered quality deliverables, knew our financial terminology and fit right into the team.
Achieving Growth While Cutting Costs
Covercy’s engagement with Adraba provided expert IT resources at a cost that was half what the Covercy team would have paid for US or Israel-based developers. WIthout any loss in quality, Covercy gained the development resources it needed to grow.
“We felt the additional support from a knowledgeable off-site IT team behind the Adraba team,” Cohen says, “So we always experienced good communication with a flow of ideas. Adraba helped us gain highly competent, professional staff that were dedicated to our project and delivered on-time.”
Those weren’t the only benefits: “The extra bonus was that we actually cut costs!” says Cohen.
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