To date, Volopay has raised approximately USD 31.4 million since its inception in 2019, which includes its USD 2.1 million seed round last January. Volopay, wants to disrupt traditional business banking and offer companies a control centre for all their financial management needs without the hassle and limitation of a traditional bank.
The startup will use the Series A proceeds to build new technologies that complement its existing product and enhance its integration with enterprise resource planning, human resource management and customer relationship management software. In addition, Volopay will hire in each of its new markets.
Volopay’s platform provides startups and enterprises flexibility by issuing virtual and/or physical prepaid multicurrency corporate cards in their local currency (SGD, AUD, INR, IDR, PHP, etc) with up to 5% cashback on all card transactions. The platform also processes domestic and international bank transfers with low foreign exchange rates and transaction fees.
Users get access to multicurrency wallets, which support more than 65 major currencies in over 100 countries without foreign exchange charges levied on international payments, and expense management software that helps track and control all the expenses in real-time.
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