Palla, a cross-border payments FinTech based in the US, has secured $14.5m in a Series A funding round aimed at scaling its international payments platform.
The round was led by Revolution Ventures, with support from Y Combinator, Ardent, Cowboy Ventures, Dash Fund, Uncommon Capital, Meta Fund, Evolution VC, First Check Ventures, Vitalize, and DeepWork Capital. Revolution Ventures managing partner David Golden and Heidi Miller, former president of JPMorgan International, will join Palla’s board as part of the raise.
Founded to address the complexity of traditional cross-border transfers, Palla provides financial institutions and FinTechs with tools to embed real-time international payment capabilities directly into their existing platforms. The company offers a flexible suite of APIs, white-label apps, and embeddable components, helping partners bypass the need for siloed third-party apps and deliver a streamlined experience within their own channels.
With the new capital, Palla intends to extend its payment corridors and roll out new money-movement features. The firm also plans to broaden its product offering and scale operations to meet increasing demand, especially across Latin America and the Caribbean, with further global expansion in the pipeline.
The company has already partnered with over 30 financial institutions and distribution networks. These partnerships allow Palla to serve a potential user base of more than 150m people, with more integrations set to launch before the year’s end.
Revolution Ventures managing partner David Golden said, “Palla is setting a new standard for speed and accessibility in cross-border transactions. Their innovative approach to simplifying and securing international payments aligns perfectly with our investment philosophy. We are excited to support Enrique and his team as they expand Palla’s reach and help businesses and individuals connect financially across borders with ease.”
Palla CEO Enrique Perezalonso said, “Palla is revolutionizing international payments, and this new funding brings the expertise and resources we need to scale to the next level. Our goal has always been to simplify and secure cross-border transfers, giving financial institutions the opportunity to make them faster, safer, and more user-friendly than ever before.
“This investment will accelerate our growth and further our mission to make international payments seamless and accessible to everyone.”
Source: https://fintech.global/
