Walapay Raises $4.6 Million in Seed Round Led by Gen Venture Capital

Walapay raised $4.6 million in a seed round led by Gen Venture Capital, giving the payments infrastructure company funding to pursue additional licenses, expand bank partnerships and grow its team.

Commerce Ventures, Polygon, AAF Management, Verda Ventures, NGC Ventures, FGV Capital, JSquare, Reflexive and Big Brain VC also joined the round.

Walapay provides financial technology companies and payment service providers with multi-currency accounts and instant settlement. Its platform also supports real-time transfers to emerging markets.

The company offers a tool that converts idle deposits into digital dollars that can generate returns, which are passed back to customers.