- Online money transfer company Kapaga, which focuses on small and medium-sized businesses, has confirmed it has raised £1.5million in funding.
- The funding round was led by a company called Target Global and was backed by a number of angel investors involved in the fintech world.
- “Our value lies in our ability to remove barriers when it comes to opening business bank accounts and offering payment services at a fraction of the cost compared to high street banks and traditional providers,” said said Katya Dorofejeva, founder of Kapaga.
Kapaga, an online money transfer company which focuses on small and medium-sized businesses, has confirmed it has raised £1.5million in funding.
The funding round was led by a company called Target Global, with a number of fintech angel investors also involved.
These included Mark Ransford, Andreas Mihalovits and Chris Adelsbach.
Kapaga was only launched in 2021, but has since gone from strength to strength.
It allows transfers to more than 190 countries around the world, in many different currencies.
The new funding should enable Kapaga to venture into new product areas in the coming months, such as virtual cards.
It is also believed to be preparing to launch large-scale international payments.
Katya Dorofejeva, the company’s founder, said the company was “excited” to improve the customer experience so much.
“We are delighted to offer our customers an unparalleled 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 barriers when it comes to opening business bank accounts and offering payment services at a fraction of the cost compared to high street banks and traditional providers,” said she declared.
She added that Kapaga customers benefit from quick onboarding.
“Our goal is to onboard and activate customers in less than 48 hours, start to finish,” she said.
“All of this is now available through one app and one dashboard to stay in control of your payments.”
Kapaga already provides commercial scaling services to more than 150 customers worldwide.
The company has over 20 employees on its books – these are all working remotely from different locations around the world.
It is believed that Kapaga will now focus on building its work in the European Union, which is a key market for payments.
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