Cape Town-based fintech startup Lumepay has successfully raised $6 million (approximately R98.6 million) in a pre-seed funding round supported by founder-led angel investors and leading South African fintech backers. The funding marks a significant milestone for the company as it seeks to modernize and simplify cross-border payments for businesses operating across Africa.
Lumepay provides a comprehensive business-to-business (B2B) financial infrastructure platform that combines institutional-grade payment rails, foreign exchange (FX) capabilities, digital asset services, and multi-currency accounts. Its solutions are designed to help African businesses move money across borders more efficiently, reduce transaction costs, and access reliable foreign currency liquidity in markets where traditional payment systems can be slow and expensive.
The company revealed that the funding round was completed earlier this year and was complemented by approximately $10 million (R164.4 million) in capital float, strengthening its ability to facilitate transactions and provide liquidity across multiple African markets. According to Lumepay, part of the capital was allocated to launching the business and establishing its market presence, while the remaining funds continue to support the development and expansion of its end-to-end payment ecosystem.
As part of its growth strategy, Lumepay launched Lumetrade in April, a digital asset and stablecoin trading platform designed to complement its payment infrastructure. This was followed by the launch of its cross-border payments platform in June, enabling businesses throughout Africa to send and receive funds more efficiently across different jurisdictions and currencies.
The fintech has also expanded beyond Southern Africa by obtaining regulatory clearance to operate in Kenya, a move that signals its official entry into the East African market. This expansion forms part of a broader strategy to build a pan-African payment network supported by regulatory compliance, strategic partnerships, and enhanced liquidity capabilities.
According to Harry Huang, Chief Executive Officer of Lumepay, the future of cross-border payments lies in the integration of traditional financial systems with modern digital asset technologies such as stablecoins. He emphasized that businesses require dependable, competitively priced, and efficient payment solutions that can support growth rather than force companies to spend time managing transaction challenges. Huang noted that Lumepay’s mission is to become the trusted end-to-end solution for African companies seeking seamless cross-border money movement.
Luc Varejes, Chief Operating Officer of Lumepay, highlighted the progress made since securing the investment. He explained that the company has successfully translated its vision into operational products and services, including the development of diversified liquidity channels, a fully integrated cross-border payments platform, and an expanding network of partners and payment rails across the continent. The company has also secured regulatory approvals in South Africa and Kenya while establishing relationships with licensed partners across Francophone West and Central Africa.
Varejes added that the fresh capital has enabled Lumepay to accelerate its growth plans, enhance its technology stack, and expand into additional payment corridors across Africa. The long-term objective is to make cross-border money transfers within Africa as seamless and efficient as transactions in more developed markets.
Lumepay joins a growing list of South African fintech startups attracting investor confidence in 2026. Companies such as Jem and TurnStay have also secured funding this year to expand their operations, reflecting increasing investor interest in technology-driven solutions that address payment, financial inclusion, and business efficiency challenges across the continent.
The latest funding round positions Lumepay as an emerging player in Africa’s rapidly evolving fintech sector, where demand for faster, more affordable, and more reliable cross-border payment solutions continues to grow. By combining traditional foreign exchange services with digital asset innovation, the company aims to bridge longstanding gaps in African trade and commerce while supporting businesses’ ability to scale across borders.
