Walapay raises $4.6M seed led by Generative Ventures for its cross-border payments infrastructure

Walapay has raised a $4.6 million seed round led by Generative Ventures. Commerce Ventures, Polygon, Verda Ventures, NGC Ventures, FGV Capital, AAF, Jsquare, Knollwood and Big Brain Holdings participated.

Founded by brothers Tom Borgers, the CEO, and Dimitri Borgers, the New York company gives fintechs, PSPs and financial institutions a single API to issue multi-currency accounts, collect, convert and pay out. It has direct local rail integrations across Latin America, Africa and Asia, and owns its licences and banking relationships rather than renting them. Customers can also convert idle balances into yield-generating digital dollar instruments.

Walapay processes $2.5 billion in annualised TPV across 180+ countries and 60+ currencies. Its customers include Kast, Nuvei and Bastion.

The round funds more licences, banking partnerships and hiring.