Wapi Pay is a Kenyan payments gateway that enables African businesses to send and receive money with Asia via mobile money platforms and bank accounts. Founded in 2019 and operating from Kenya with offices in China and Singapore, the company bypasses traditional payment networks to offer bank-to-bank, wallet-to-wallet, bank-to-wallet and wallet-to-bank transfers. It says settlements are completed within 24 hours and charges as low as 3%, while working with local banks and platforms across China, Indonesia, India, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam. Wapi Pay reports 396% year-on-year growth since 2019 and aims to scale processing to $500 million in remittances by the end of next year. The startup plans to expand its product range, engage regulators for licensing across Africa, and grow its merchant and supplier networks to 500,000 African merchants and 100,000 Asian suppliers. The $2.2M pre-seed raise will be used for licensing, product development, geographic expansion and scaling operations.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2021