Kapaga, a London, UK-based cross-border payment platform for small and medium enterprises (SMEs), raised £1.5m in funding.
The round was led by Target Global with participation from angel investors in the fintech space, Chris Adelsbach, Andreas Mihalovits, and Mark Ransford.
The company intends to use the funds to expand operations and its business reach, as well as to continue to build out its platform as it looks to introduce mass global payments and virtual cards in the coming months.
Launched in 2021 by Katya Dorofejeva, Kapaga provides a cross-border payments platform opening business accounts and providing multi-currency payment services to small and medium-sized companies in the UK, and soon to Continental Europe. It delivers cloud-based technologies to automate customer onboarding and streamline international payments. Its cloud architecture allows companies to send and bill money to 190+ countries in numerous currencies via one secure and streamlined application.
Kapaga has more than 150 clients and more than 20 employees who work remotely from across the globe, Kapaga will be expanding its operations across the EU this summer.