Kenyan fintech Wapi Pay has raised USD 2.2 Mn pre-seed funding to scale its global payments and remittances between Africa and Asia. Investors in the round included, China-based fund MSA Capital, EchoVC, Kepple Africa, Future Hub, and Pan-Asian firms Transsion Holdings and Gobi Ventures. Wapi Pay will also use the investments to engage regulators for licensing across Africa and geographical expansion.
Wapi Pay provides a payments gateway for African businesses to receive and send money from Asia via mobile money platforms and bank accounts. The platform supports organizations and institutions in processing bulk payments to multiple mobile platforms.