Palla raises $14.5m for cross-border payments
Palla, a fintech that enables instant cross-border payments for global financial institutions and fintech firms, has raised $14.5 million in a Series A funding round led by Revolution Ventures.
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Y Combinator, Ardent, Cowboy Ventures, Dash Fund, Uncommon Capital, Meta Fund, Evolution VC, First Check Ventures, Vitalize, and DeepWork Capital joined the round.
Palla's platform enables partners to embed real-time international payments into their existing digital channels via a suite of APIs, white-label apps, and embeddable components.
Unlike traditional money transfer providers that require customers to use separate, siloed apps, Palla allows financial institutions to offer international payments directly within their native applications - or via Palla's hosted infrastructure — tailored to each partner's cross-border use case and end customer needs.
The firm has partnerships with more than 30 financial institutions and distribution partners, embedding directly into their digital channels.
The funding will be used to broaden existing payment corridors and expand into new ones for both sending and receiving transfers. The company also plans to introduce new product lines and money-movement mechanisms.
Enrique Perezalonso, CEO, Palla, says: 'This investment will accelerate our growth and further our mission to make international payments seamless and accessible to everyone.'
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