Depay raises US$4 million to expand real-time payments globally
Depay raises US$4 million in a Seed round to expand its real-time payments infrastructure and connect financial systems worldwide.
Depay continues to establish itself as a significant player in the fintech ecosystem after announcing the close of a Seed round of US$4 million, which it plans to use to expand its real-time payments infrastructure globally.
A solution to eliminate fragmentation in digital payments
The Argentine startup is developing interoperable technology that proposes a new model for digital transactions, focused on eliminating geographic barriers and simplifying the payment experience across different markets.
Its solution allows digital wallets to work with any QR code, while merchants can accept payments from other countries seamlessly. Its central goal is to address one of the sector’s main challenges: the fragmentation of payment systems, which currently operate in isolation in each region.
A round led by North Island Ventures
The investment was led by North Island Ventures and included participation from international funds such as CMT Global, Digital Currency Group, Verda Ventures, Onigiri Capital and Hash3.
The capital raised will primarily be used to strengthen the company’s presence in Latin America, add new payment systems in Asia, and advance its expansion into Africa and Europe.
The startup will also focus these resources on:
- Improving its technology infrastructure
- Expanding its regulatory capabilities
- Bringing key talent onto its team
Cross-border payments that work like local ones
Depay has developed a solution that acts as a bridge between different payment networks, facilitating international transactions with an experience similar to local payments.
A concrete example: a user in Argentina can pay at a merchant in Colombia using their account in pesos, while the merchant receives the money in local currency, with real-time conversion and settlement.
In less than a year, the company has already processed more than US$400 million in instant payments and built a network reaching more than 300 million users.
“Instant payments are changing how money moves, but they still operate in disconnected systems. We aim to unify them so that every international payment feels local,” said Joaquín Fagalde, the company’s CEO and founder.
Blockchain and real-time payments underpin the model
North Island Ventures highlighted the startup’s potential, pointing to the combination of blockchain technology and real-time payment networks as a key differentiator.
According to Travis Scher, the fund’s managing partner, this approach makes it possible to offer a more efficient service than traditional solutions.
With this new funding, Depay aims to become a key part of the global digital payments infrastructure, taking a solution developed in Latin America to other international markets.
