In its bid to facilitate engagement with regulators for licensing across Africa, Kenyan fintech startup, Wapi Pay, has raised a US$2.2 million pre-seed funding round.
The non-equity pre-seed raise is going to be used by Wapi Pay to assist in engaging regulators for licensing across Africa, and drive higher and sustained growth.
The newly raised fund is to drive global remittances and payments between Asia and Africa.
Investors that took part in the funding round include MSA Capital, EchoVC, Kepple Africa Ventures and other current angel investors.
Speaking on the secured fund, Eddie Ndichu, Co-founder at Wapi Pay said:
“These funds will help Wapi Pay diversify its product range and drive growth so that we can evolve remittances into real-time global cross-border payments, starting with Africa and Asia. All while minimizing the cost of transactions, it needs to be as easy as sending M-PESA,”
Wapi Pay is a leading Africa-Asia financial solution provider. It was founded in Kenya in 2019 and has offices in China and Singapore.
WapiPay is a platform that provides bulk payment processing support for organizations and institutions to various mobile platforms and such payments are facilitated through methods like debit/credit cards, bank transfers and wallets.
Within seconds, the platform initiates transfers including payment of salaries and business purchases. Payments are facilitated on
Apart from offering payment gateways and accounts payable solutions, WapiPay also offers advanced analytics and reporting to its users to facilitate quick and accurate decision-making.
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