Cape Town-based fintech Lumepay has raised $6m (approximately R99m) in pre-seed funding to build its cross-border payment infrastructure for businesses across Africa.
Image supplied
The round, backed by founder-led angel investors and South African fintech investors, closed in early 2026. The company also secured approximately $10m in capital float to support liquidity for clients using its payment services.
Lumepay provides cross-border payment solutions for small and medium-sized businesses, corporates and institutions. Its platform is designed to help businesses move money between African markets and international trading partners.
The company launched its cross-border payments platform in June 2026, following the launch of Lumetrade, its digital asset and stablecoin trading platform, in April.
Expansion into East Africa
In October, Lumepay received regulatory clearance from the Central Bank of Kenya and launched its payments solution in the country.
Kenyan businesses can use the platform to pay international suppliers in currencies including the Chinese yuan, US dollar and Indian rupee, as well as transfer funds through intra-African trade corridors.
Lumepay says its platforms are also live in markets including Nigeria, Ghana, Tanzania, Malawi and Mozambique, as well as the West African and Central African CFA franc zones. Further regulatory approvals are required to expand its payment capabilities in these markets.
The company is now focusing on extending its regulatory footprint and payment network across Southern, West and Central Africa, with Malawi, Mozambique and the CFA franc regions among its priorities.
Chief executive Harry Huang said the company had built a platform combining traditional financial infrastructure with digital assets and stablecoins, supported by foreign exchange liquidity.
Banking partnerships and regulatory compliance
In South Africa, Lumepay works with Nedbank as its third-party payment provider sponsoring bank for domestic rand collections and disbursements.
Its digital asset business, Lume Trade, is an authorised financial services provider holding a Category I licence covering intermediary services in crypto assets. It also has a banking relationship with Standard Bank to support rand deposits and withdrawals for institutional digital asset clients.
Chief operating officer Luc Varejes said the funding had helped the company establish its payment infrastructure, liquidity arrangements, banking partnerships and regulatory position in several African markets.
Lumepay said the pre-seed funding has supported the development of its core technology, payment rails, wallet infrastructure and enterprise security systems.
The company is now entering its growth phase and preparing for a Series A funding round.
