Caliza, a startup providing banks and fintechs with an API that enables their customers to save and transact in US dollars, has officially launched in Brazil, securing $5.3 million in seed funding.
Led by Better Tomorrow Ventures and Abstract Ventures, the funding round also saw participation from Fontes by QED, Quona Capital, and Valor Capital Group.
Caliza highlights that financial institutions outside the U.S. often do not offer US dollar accounts to individuals or small businesses due to associated costs and complexities. As a result, Brazilian companies and individuals face higher costs for accessing international merchants and services, such as Amazon Web Services, Slack, Walmart, and Apple.
The startup aims to address this issue by establishing a comprehensive suite of compliance, banking, and payment services utilizing USD Coin. Through its API infrastructure, firms can offer digital dollar accounts, real-time cross-border payments, and fiat-to-crypto on and off ramps.
Following its launch in Brazil, Caliza plans to expand into Mexico early next year, with future targets including Africa and Southeast Asia. The funds raised will be allocated towards team expansion and the development of additional financial services, including access to US Treasury bills with on-demand liquidation capabilities and international credit cards.
Caliza was founded by Ezra Kebrab, who was motivated by his experience at Visa, where he led an accelerator program focused on helping fintechs introduce payment solutions globally. This experience illuminated the challenges companies face in entering new markets due to limited access to global accounts tied to the world’s reserve currency.
Kebrab noted, “National payment systems are advancing quickly, with Central Banks launching real-time payment systems like Pix (Brazil), SPEI (Mexico), and UPI (India), among others. However, there remains a significant gap in cross-border payments and banking. Caliza aims to fill this gap so that everyone can thrive in a global economy.”