Cross-Border Payments Firm Payall Pockets $10M in 16z-Led Funding Round


Paymenta banking processor for international money transfers, pocketed $10 million in a seed round led by a venture capital firm Andreessen Horowitz (a16z) on its mission to put regulated financial institutions at the heart of cross-border payments.

The Florida-based company, founded in 2018, describes itself as the world’s first banking processor for cross-border payments that combines the disciplines of payment processing, banktech and regtech.

Payall’s single, shared global platform powers compliance automation, risk mitigation, first-ever transparency of payer details, and specialized and inclusive payment orchestration for cross-border payments offered by banks and other regulated financial entities.

Alongside Andreessen Horowitz, other investors in the round include Motivate CV, PS27 companies and Bridgeport Partnerswith SAFE conversions of RRE companies and Transmap. Other participants include Chuck Bernicker, Nish Bhalla, Matt Gillin, Stefan Happ, Kabir Syed and Chris Winship.

Gary Palm, Founder and CEO of Payall, says, “a16z is rightly famous for the landmark claim that ‘every company will be a fintech company’. We agree 100% with this thesis and believe that regulated financial services firms around the world should be equipped with fintech capabilities to fully participate in cross-border payments and international money transfers – safely, securely. and respecting the rules.

Andreessen Horowitz says he is committed to supporting the next generation of global businesses by default and sees a huge opportunity for Payall to become the compliance backbone for all cross-border payments.

Anish Acharya, General Partner at Andreessen Horowitz, comments: “Until now, international banking transactions have been disjointed, cumbersome and widely perceived as high risk. We are excited about Payall’s vision to restore trust and transparency in foreign banking processes and strongly believe in Gary’s ability to execute.


Payall’s proprietary software and business processes collect new data-rich artifacts that overcome the high risk of cross-border payments. Funds processed through the Payall platform move around the world at the speed of data. Recipients, including the unbanked, receive their money in minutes through the payment channel of their choice, such as mobile money, prepaid card or bank account.

“We automate error-prone manual tasks associated with cross-border payments and international money transfers,” adds Palmer. “Our approach eliminates the significant costs and time financial institutions previously incurred and mitigates substantial risk in one of the most challenging areas of global banking.”

Payall also automates compliance and processes to protect financial institutions and their customers and enables first-ever KYC foreign payer transparency, sanction controls, documentation of business activities, and new artifacts to prevent illicit activity.


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