Palla, a fintech company facilitating instant cross-border payments for global financial institutions and fintech firms, has successfully raised $14.5 million in a Series A funding round led by Revolution Ventures.
Participating in this round were notable investors such as Y Combinator, Ardent, Cowboy Ventures, Dash Fund, Uncommon Capital, Meta Fund, Evolution VC, First Check Ventures, Vitalize, and DeepWork Capital.
Palla’s platform allows partners to integrate real-time international payments into their existing digital channels through a range of APIs, white-label applications, and embeddable components. Unlike traditional money transfer providers that require distinct apps, Palla enables financial institutions to provide international payments directly within their own applications or via Palla’s hosted infrastructure, customized for each partner’s cross-border needs.
The company has established partnerships with over 30 financial institutions and distribution partners, embedding its services directly into their digital platforms. The new funding will be utilized to expand existing payment corridors and explore new ones for both sending and receiving transfers. Palla also aims to introduce new product lines and money-movement mechanisms.
Enrique Perezalonso, CEO of Palla, stated, “This investment will accelerate our growth and further our mission to make international payments seamless and accessible to everyone.”