Wapi Pay, the Kenyan fintech startup which has operations in Singapore, has raised a US$2.2 million pre-seed funding round to help it engage regulators for licensing across Africa, and drive higher and sustained growth. Wapi Pay started in 2019 with offices in Nairobi, Singapore and Tianjin (China) with the objective to deliver platform-to-platform integrations, global accounts and virtual wallets to offer its partners and customers convenient global payments and financial products.
To achieve this expansion, Wapi Pay has raised US$2.2 million in pre-seed funding to scale up global payments and remittances between Africa and Asia. Investors include EchoVC and China-based global fund MSA Capital, as well as Kepple Africa Ventures and current angel investors. The non-equity pre-seed raise will be used by Wapi Pay to help it engage regulators for licensing across Africa, and drive higher and sustained growth.
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“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 minimising the cost of transactions, it needs to be as easy as sending M-PESA,” said Eddie Ndichu, co-founder at Wapi Pay.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry