London-based TerraPay, a global payments infrastructure company, announced that it has secured $100M in a Series B equity and debt round of funding.
The company claims to have been successful, and it is now prepared to advance its payments infrastructure and features, and offer customers around the globe more seamless cross-border payment options.
The round was led by IFC with participation from Prime Ventures, Partech Africa, the US International Development Finance Corporation (DFC), and a consortium of other investors.
Founded in 2014 by Ambar Sur, Ani Sane, Ram Sundaram, and Akbar Hussain, TerraPay is a fintech mobile-first international payment network founded with the vision to send money to any mobile.
It is a global collaborator to banks, mobile wallets, money transfer companies, businesses, and financial organizations, expanding and fostering an open global financial ecosystem. It is registered and controlled in 27 global markets.
TerraPay enables companies to offer transparent customer experiences by providing a continuous, safe, and real-time worldwide passage for all payments, regardless of how small or large.
Currently, the company’s payments infrastructure and solutions platform offers business/merchant pay-outs, purchasing, and issuance services, among other services.
The London-based company has a network of partners and customers in more than 108 receiving countries and 205 sending countries with 62 settlement currencies.
TerraPay has built partnerships with global money transfer companies including Western Union, Visa, Xpress Money, MoneyTrans, Paga, Ria, Instant Cash, Ripple, and MoneyGram.
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