Walapay raises $4.6M to bring near instant global payments to local businesses

Walapay Inc., a global payments infrastructure company, has raised $4.6 million in seed funding led by Generative Ventures to bring near-instant global payments to local businesses. The company, founded by brothers Tom and Dimitri Borgers, utilizes blockchain technology and a single API to facilitate cross-border transactions in currencies and regions like Latin America, Africa, and Asia.

Walapay aims to close the gap between global payment platforms and local accounts by moving money directly into local banks, bypassing multiple banks and payment service providers that typically extract fees and add time to the settlement process. The new funding will enable Walapay to expand its licensing footprint, deepen banking partnerships, and grow its team to assist more financial institutions transitioning to modern payment systems.

Brief written by urgent.news from SiliconANGLE's own syndicated text. Machine-written — may contain errors; check the original before relying on it.