The executive did not provide Volopay’s valuation.
In addition, Volopay will hire aggressively in each of its new markets.
The platform also processes domestic and international bank transfers with low foreign exchange rates and transaction fees.
“That restricts the type of products you can offer clients.
Volopay has already seen its total payment value increase 98% monthly and its revenue jump 41% since its seed funding round, Shaji noted, although he didn’t provide a baseline. The company also has grown its team size from 20 to more than 150 employees and amassed over 700 customers with the likes of Funding Societies, Zipmex, Moneysmart, Smartkarma and Austrionova since the beginning of 2021.
It’s promising growth like this that usually attracts new investors or solidifies support from previous investors. Volopay’s Series A round, for example, was led by JAM Fund, an existing investor.
It was only natural to triple down and lead the Series A round.”