South African cross-border payments start-up Lumepay raises $6m and is live in six more African countries
The company, which mixes bank transfers and stablecoins for business payments, has also secured a $10m capital float and clearance in Kenya.
PANM — South African cross-border payments company Lumepay has raised $6 million in pre-seed funding, along with a $10 million capital float to give its clients access to liquidity, Disrupt Africa reported.
Led by chief executive Harry Huang, Lumepay handles payments for small businesses, corporates and institutions. Its platform combines traditional bank transfers with stablecoins to move money quickly and transparently within and between African countries. It launched Lumetrade, a digital-asset and stablecoin trading venue, in April, and its payments platform in June.
"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," Huang said.
The round was backed by founder-led angel investors and South African fintech investors.
Six markets and counting
Lumepay is now live in Nigeria, Ghana, Tanzania, Malawi, Mozambique and Kenya, and in the West and Central African CFA franc zones, while it waits for further regulatory approvals in those markets. Last month the Central Bank of Kenya cleared it to operate, so Kenyan businesses can now pay suppliers in Chinese yuan, US dollars and Indian rupees, and move money along intra-African trade routes.
In South Africa it works with Nedbank as its sponsoring bank, while its sister business, an authorised financial services provider for crypto assets, banks with Standard Bank.
The pre-seed money has paid for payment rails, banking relationships, licences and a partner network. Next, the company plans to expand its licences across Southern, West and Central Africa, with Malawi, Mozambique and the CFA franc regions as priorities, as it prepares for a Series A round.
Source: Disrupt Africa, 12 November 2026.
