The funding will support Walapay’s licensing expansion, banking partnerships, and team as it scales its payment infrastructure.
Payments infrastructure company Walapay has raised US$4.6 million in a seed funding round led by Generative Ventures to expand across emerging markets. The round included participation from firms such as Commerce Ventures, NGC Ventures, and FGV Capital.
Founded by brothers Tom and Dimitri Borgers, Walapay provides a single API for enterprises and financial institutions to move money across currencies and geographies. Its direct local rail integrations cover Latin America, Africa, and Asia.
Walapay states that its infrastructure provides instant settlement into multicurrency accounts and real-time repatriation of funds to emerging markets. Customers can also convert idle deposits into yield-generating digital dollar instruments, with the resulting yield shared with them.
Tom Borgers, Co-Founder and CEO of Walapay, said: “We believe next-generation payment rails will become first-class financial infrastructure, but the banking system isn’t going away anytime soon. 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.”
Lex Sokolin, Managing Partner at Generative Ventures, added: “Walapay is a rare team building that full stack themselves, owning the licensing and banking relationships instead of renting them, and using whichever rails move money fastest and cheapest.”
Walapay plans to use the new funding to expand its licensing footprint, deepen banking partnerships, and grow its team. The company said it is also working to bring more banks and financial institutions directly onto modern payment rails.
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