Lumepay, a cross-border payment solutions provider for SMEs, corporates and institutions, today disclosed a US$6m pre-seed round backed by founder-led angels and South African fintech investors. The round closed at the start of 2026, alongside approximately US$10m in capital float secured to anchor deep, reliable liquidity for clients.
In April 2026, Lumepay launched Lumetrade, its premium digital asset and stablecoin trading venue. In June 2026, Lumepay launched its cross-border payments platform for businesses across Africa, and it recently received regulatory clearance to operate in Kenya, signalling its entry into the East African region. Lumetrade and Lumepay are live in the XOF (West African CFA franc zone), XAF (Central African CFA franc zone), NGN (Nigeria), GHS (Ghana), TZS (Tanzania), MWK (Malawi), MZN (Mozambique) and KES (Kenya) markets, and are awaiting further regulatory approvals in these African countries to expand their payment capabilities.
The capital was used to kick-start Lumepay’s vision and fund its market entry, and the remainder continues to power an end-to-end solution built on stable infrastructure, reliable rails and dependable access to liquidity, giving African businesses the foundation they need to grow and connect to the global economy.
Cross-border payments underpin the flow of value across the global economy, with transaction volumes projected to reach US$320 trillion by 2032. That growth reflects a deeper shift in how commerce operates: businesses now transact across multiple markets, currencies and payment systems, managing everything from trade finance, treasury settlements and high-value institutional transfers to remittances, invoice payments and e-commerce.
Nowhere is this shift more pronounced than in Africa. With one of the world’s youngest populations and a thriving home-grown fintech ecosystem, the continent is driving a structural move away from correspondent banking towards faster, more flexible cross-border flows. The next step is moving with this shift: building systems designed for how African businesses now trade, with the liquidity, infrastructure and speed to lead what comes next.
“The future of cross-border payments isn’t traditional finance or stablecoins; it’s a combination of both, backed by the FX depth to make them work for real businesses,” said Harry Huang, Chief Executive Officer of Lumepay. “That’s how we’ve built Lumepay: a rail-agnostic platform that works at the intersection between the two. Everything we design, build and operationalise is centred on one mission: to be the end-to-end solution African businesses trust to move money across borders reliably, at competitive pricing and with the service standards business clients expect.”
“Our integrated approach addresses the real drivers of friction: fragmentation, liquidity inefficiency and execution risk,” Huang added. “When businesses can move money reliably and cost-effectively, they stop managing constraints and start unlocking growth.”
“Africa’s moment is now, and our job is to make sure businesses can transact seamlessly and efficiently,” said Luc Varejes, Chief Operating Officer of Lumepay. “In the months since the raise, we’ve turned plans into working products: diversified and reliable liquidity; a platform that handles cross-border payments end to end; a growing network of partners and payment rails; and regulatory clearance in South Africa and Kenya, together with licensed partners across Francophone West and Central Africa. The capital has given us the freedom to build, scale and execute on our vision, corridor by corridor, so that moving money across Africa becomes as simple as moving it in developed markets.”
Kenya and Expansion Across Africa
In October 2026, Lumepay received regulatory clearance from the Central Bank of Kenya and launched its payments solution. Kenya is among some early key African markets where Lumepay has established itself, and one of the clearest results of the pre-seed capital at work. Businesses in Kenya can now pay international suppliers in Chinese yuan (CNY), US Dollar (USD), Indian Rupee (INR) and other currencies, and move money across intra-African trade corridors with ease. Lumepay is now focussing on expanding its regional capabilities and regulatory footprint across Southern, West and Central Africa to strengthen its presence in these markets, key among them being Malawi, Mozambique and the West African CFA Franc (XOF) and Central African CFA Franc (XAF) regions.
Banking Relationships Built on Compliance
In South Africa, Lumepay works with Nedbank as its Third-Party Payment Provider (TPPP) sponsoring bank for domestic ZAR merchant collections and disbursements. Lume Trade (Pty) Ltd is an authorised financial services provider (FSP No. 54670) holding a Category I FSP licence, covering intermediary services in crypto assets, and has established a banking relationship with Standard Bank to support ZAR deposits and withdrawals for its digital asset dealing institutional clients. Beyond South Africa, Lumepay works with a broad network of banking, payment and liquidity partners across the continent, and continues to work closely with them to deliver reliable solutions for its clients.
“Banks are rigorous about who they work with, and they should be,” said Tatenda Nhemachena, Chief Legal and Compliance Officer of Lumepay. “Working with Nedbank and Standard Bank across our two businesses reflects the compliance standards we have built from day one. Reliable banking access is what allows institutional clients to trade and move money with confidence. Conversations are already underway with other leading institutions as we continue to expand our banking network in key African markets.”
Early Validation and Building Towards Series A
Lumepay’s early validation has come through both its payments platform and Lumetrade, which have attracted businesses, corporates and institutions since launch. That momentum reflects a wider market in motion: transaction values on the Pan-African Payment and Settlement System (PAPSS) have more than doubled in 2026 compared with the same period last year, as African businesses look for faster, cheaper ways to trade across borders. That traction confirms Lumepay is solving real problems for African businesses, and points to the immense opportunity ahead.
The pre-seed round, now closed, has funded Lumepay’s core infrastructure and products: compliant payment rails, banking relationships, regulatory approvals and a network of licensed partners across African jurisdictions, enterprise-grade security and its technology and wallet infrastructure. With the foundation in place, the company is entering its growth stage and laying the groundwork for its Series A.
For more information, visit www.lumepay.com.
