- Online money transfer company Kapaga, which focuses on small to medium-sized companies, has confirmed that it has raised £1.5m in funding.
- The funding round was led by a firm called Target Global and was supported by a number of angel investors who are involved in the financial technology world.
- “Our value lies in our ability to remove hurdles when it comes to opening business bank accounts and offering payment services at a fraction of the cost versus high street banks and legacy providers,” said Katya Dorofejeva, the founder of Kapaga.
Kapaga, an online money transfer company that focuses on small to medium-sized companies, has confirmed that it has raised £1.5m in funding.
The funding round was led by a company called Target Global, with a number of financial technology angel investors also involved.
These included Mark Ransford, Andreas Mihalovits and Chris Adelsbach.
Kapaga was only launched back in 2021 but has since gone from strength to strength.
It allows for transfers to be made in more than 190 countries around the world, across many different currencies.
The new funding is expected to allow Kapaga to move into new product areas in the coming months, such as virtual cards.
It is also thought to be preparing to launch mass-scale international payments.
Katya Dorofejeva, the founder of the company, said that the firm was “excited” about the prospect of improving customer experience to such a degree.
“We are excited to offer our customers an unrivalled experience when it comes to accessing a reliable and transparent tool for cross-border payments,” she said.
“Our value lies in our ability to remove hurdles when it comes to opening business bank accounts and offering payment services at a fraction of the cost versus high street banks and legacy providers,” she said.
She added that Kapaga customers benefit from speedy onboarding.
“We aim to board and activate customers in under 48 hours, start to finish,” she said.
“All of this is now available through one application and one dashboard to stay in control of your payments.”
Kapaga already provides business scaling services to more than 150 clients worldwide.
The company has more than 20 workers on its books – these all work remotely from different locations around the world.
It is thought that Kapaga will now turn its attention to building its work in the European Union, which is a key market for payments.
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