Volopay provides virtual and physical prepaid multicurrency corporate cards, multicurrency wallets supporting 65+ currencies across 100+ countries, low‑cost domestic and international transfers, and expense management software to track and control spending in real time. The platform offers up to 5% cash back on card transactions and emphasizes low foreign‑exchange charges for international payments. Volopay plans to build new technologies that complement its product and enhance integrations with ERP, HRM and CRM systems, and will hire aggressively as it expands into APAC and MENA markets. The company positions itself as an alternative to traditional banks by owning regional infrastructure to deliver a consistent global experience. Since its 2019 founding the startup has grown its team from ~20 to over 150 employees and amassed 700+ customers including Funding Societies, Zipmex, Moneysmart, Smartkarma and Austrionova. Management reports strong traction: total payment value increased 98% monthly and revenue rose 41% since its seed round. Volopay provides a platform that combines multicurrency Visa Corporate cards, domestic and international bank transfers, automated bill pay, expense management and accounting integrations to help companies reconcile spending and save on FX fees. The company issues corporate cards with up to 2% cash back on software subscriptions, hosting and international travel and offers a credit facility with an average credit line of about $30,000. Volopay launched in 2019 and was founded by Rajith Shaiji and Rajesh Raikwar; it took part in Y Combinator's accelerator program. It serves roughly 100 clients, including InVideo, Dathena, Medline, Sensorflow and Beam, with most customers in tech and typically 15–150 employees. The business has seen rapid transaction growth, reporting about 70% month-on-month growth in total funds flowing through its platform, and new features such as bill pay now contribute roughly 40% of payment volume while the credit product accounts for about 30% of card spending. Volopay is using its recent funding to hire, build product and strategic partnerships, and to expand internationally (it plans to launch operations in Australia later this month).

Total raised

$31M

Funding rounds

3

Latest round

Series A

Latest activity

Feb 2022