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TerraPay raises USD 23.8 M from Symbiotics Investments to scale its digital payments network globally
October 04, 2022 | TerraPay | Newsroom

TerraPay, a leading global payments infrastructure company has partnered with Symbiotics Investments to raise USD 23.8 M (USD 14.425 M raised in the first round and USD 9.4 M in the latest round). This strategic association will enable TerraPay to scale up digital transaction volumes across its well-entrenched global network. It will also be instrumental in further strengthening TerraPay’s global payments infrastructure & solutions to empower underserved communities across the world. Together, both companies aim to make the world of cross-border payments more inclusive and accessible.

With this collaboration, TerraPay aims to strengthen its pay-out network and provide its send partners with prefunding capabilities to power seamless cross-border payments across the Middle East and South East Asia corridor. The funds raised would further be utilized in driving rapid volume growth on TerraPay’s global payments highway. With the growing demand for digital payments, this partnership will play a key role for end customers to have continuous access to mobile money transactions across different payment channels, providing the send partners with increased operational flexibility to scale volumes in response to market demands.

Speaking about the funding partnership, Ganapathy Subramaniam (GS), Chief Financial Officer, TerraPay, commented “It is a pleasure to have Symbiotics Investments as our financing partner. This association takes us closer to our mission of building a safe, accessible, and seamless passage for every global payment, no matter how small or large. The funds raised will help us scale and expand across geographies and enhance our operational flexibility, helping us provide payment solutions that will further financial inclusion across the globe.”

Symbiotics Investments, Head of Fintech, Aldric Luyt, said, “We are excited about our partnership with TerraPay to further strengthen their ever-expanding digital payments network. This association will help us contribute to TerraPay’s global network expansion and serve customers in 26 global markets, empowering them with secure, seamless, and real-time cross-border payments. Our collective vision is aligned particularly with SDG1 and we look forward to strengthening this commitment toward building a more inclusive and equal global financial ecosystem together with TerraPay.”

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About TerraPay

Headquartered in The UK, TerraPay believes that the smallest payment deserves a borderless journey as safe as the largest. The group has been building an ever-expanding payments highway that empowers businesses to create transparent customer experiences with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Registered and regulated across 26 global markets, TerraPay is a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem. With access to payments infrastructure that spans the globe, their partners become beacons of the promise of global financial inclusion.

About Symbiotics Investments

Symbiotics Investments is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,100 investments representing more than USD 7.5 billion for 541 companies in 94 countries.

For more details, visit www.symbioticsgroup.com

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