Alex Pavlov, the founder of future Kauri, pitched his vision of future banking and the idea of blockchain banks to a Ukrainian bank. Although he failed to secure investments, he gained the motivation to bring his vision to life and eventually transform the financial sector worldwide.

So in September 2017, Alex invested all his money into his new business, hired developers, and took the first step toward his dream. The first company was named Kauri Finance, with a focus on creating a future web3 bank.

2018 became the year when Kauri traversed its Valley of Death. We focused on transitioning from an ephemeral idea to a tangible product. The code written this year has become the core of all technological solutions at Kauri One, and the team that developed this code has become the backbone of the existing Kauri One team.

What started as an MVP evolved into a thriving business with thousands of clients. And as we stand for regulation and complete market transparency, Kauri Finance was licensed to provide a virtual currency service in Estonia and opened its first office there in 2019.

The new page in the company's history unfolded when Kauri One was established as a software development company focused on blockchain technology and the Web3 ecosystem. From that moment on, Kauri Finance focused on individual clients, while Kauri One specialized in solutions for B2B customers.

The first upgrade of Kauri Finance's license brought our crypto platform closer to regulated financial institutions and banks. Kauri began to develop an increasing number of products for retail clients, and the business gained momentum.

After the pandemic, Kauri's core team united in Cyprus, allowing the company to focus on R&D and deep dive into its vision. This year was crucial in clarifying how the business would evolve and how the company envisioned itself in the future. And unexpectedly, the team's decision to relocate to Cyprus was momentous, helping to safeguard the business in the face of the war's outbreak.

New year, new challenges. Ukraine, the homeland of the majority of Kauri team members, was attacked by Russia. Part of our team started to work from bomb shelters and under air attacks, endured blackouts, and experienced constant concern for their families. Despite of that, the business saw rapid development and continued serving clients. In addition to external threats, the cryptocurrency market itself underwent a crisis, with the FTX exchange decline and a prolonged crypto winter impeding market development. Such was the stark contrast defining this year.

Throughout the year, we dedicated ourselves to the development of Kauri 3.0: updating services and functionality of the desktop version and releasing the Kauri application. As a result, on December 7, 2023, the beta versions of Kauri Finance’s flagship products were released and quickly gained traction with customers. A new era began for Kauri’s business.

This year, we are launching a new model of expansion into other markets – Geo Partnership. Under this model, Kauri provides software and technical support, while the partners handle licensing and promotion in specific countries or geographic regions. Our goal is to be present in 150+ countries.