Fintech Startup Walapay Secures $4.6M in Seed Funding

Walapay, a NYC-based provider of a global payments infrastructure for account issuance, collections, FX, and payouts, has secured $4.6 million in a seed funding round led by Generative Ventures.

The round also saw participation from Commerce Ventures, Polygon, Verda Ventures, NGC Ventures, FGV Capital, AAF, Jsquare, Knollwood, Big Brain Holdings and others.

The company will use the funding to expand its licensing footprint, deepen banking partnerships, and grow its team.

What is Walapay?

Walapay provides global payments infrastructure for account issuance, collections, foreign exchange (FX), and payouts.

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Its platform gives enterprises, fintechs, payment service providers (PSPs), and financial institutions access to a single API for moving money across currencies and countries.

Walapay has direct local payment rail integrations across Latin America, Africa and Asia. The company aims to simplify cross border payments by reducing the number of banks and payment providers involved in transactions.

How Much Funding Has Walapay Raised?

Walapay has secured $4.6 million in its latest Seed funding round.

The round was led by Generative Ventures, with participation from several venture firms and strategic investors.

The company did not disclose its total funding raised.

Who Invested in Walapay’s Seed Round?

Generative Ventures led the $4.6 million Seed round.

Other investors included Commerce Ventures, Polygon, Verda Ventures, NGC Ventures, FGV Capital, AAF, Jsquare, Knollwood, Big Brain Holdings, and others.

Why the Funding Matters

Walapay plans to use the new capital to expand its licensing footprint, strengthen its banking partnerships, and grow its team.

The company is also expanding its payment infrastructure across emerging markets, where it provides local payment rail connections and other financial services.

Who founded Walapay?

Walapay was founded by Tom Borgers and Dimitri Borgers.

The company is based in New York City and focuses on global payments infrastructure.

"We believe next-generation payment rails will become first-class financial infrastructure, but the banking system isn’t going away anytime soon," said Tom Borgers, Co-Founder and CEO of Walapay. "It's important for us to bring both sides together seamlessly, so businesses can move money globally without having to think about the rails underneath."

"We're always looking for teams tackling structural gaps in underserved parts of financial services, and cross-border payments is exactly that; still slow, expensive, and stitched together with rented licenses in most emerging markets,” said Vivek Krishnamurthy, Partner at Commerce Ventures.

Market and Business Growth

Walapay currently processes $2.5 billion in annualized total payment volume (TPV).

Its customers include Kast, Nuvei, and Bastion.

The company provides direct local rail integrations across Latin America, Africa, and Asia, supporting multicurrency accounts, collections, currency conversion and global payouts.

What Happens Next?

Walapay plans to expand its licensing coverage, deepen relationships with banking partners, and grow its team.

The company will also continue building its global payments infrastructure to support fintechs, PSPs, enterprises, and financial institutions across more markets.

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