Okredo starts to work in Great Britain

Lithuanian open data service Okredo launches operations in Great Britain. According to the company report, Okredo is going to focus on establishing long-term partnerships with UK CRM companies (that develop technology for managing the company's relationships and interactions with customers), ERP companies (develop software that organizations use to manage daily business activities), and accounting service companies. 

Okredo was launched in Vilnius in 2015. It provides data for evaluating business partners (automatically calculated credit limit, credit score, company value, financial ratios, and sanctions searches supplemented with relevant articles, and international reports). Okredo has already operated in Estonia, Latvia, and Lithuania. 

In August 2022, Lithuanian startup Okredo raised €650K from Lithuanian Business Angels Fund, Czech, and Lighthouse Ventures to expand across Europe, in particular into the UK. Also, it aimed to develop an Open Banking solution that would categorize cash flow and other financial parameters and enable the sharing of the company’s financial performance with relevant stakeholders throughout the year.