Palla, an international payments platform enabling instant cross-border payments for global financial institutions and fintech firms, announced that it has raised $14.5 million in a Series A funding round. The funding round was led by Revolution Ventures, with participation from Y Combinator, Ardent, Cowboy Ventures, Dash Fund, Uncommon Capital, Meta Fund, Evolution VC, First Check Ventures, Vitalize, and DeepWork Capital.
Palla’s platform enables partners to integrate real-time international payments into their existing digital channels through a suite of APIs, white-label apps, and embeddable components. And unlike traditional money transfer providers that require customers to utilize separate, siloed apps, Palla enables financial institutions to offer international payments directly within their native applications—or via Palla’s hosted infrastructure—tailored to each partner’s cross-border use case and end customer needs.
Palla has already established partnerships with over 30 financial institutions and distribution partners, embedding directly into their digital channels. And the company sees significant runway for expansion, with additional partners expected to launch before the end of the year, representing a combined end-customer base of over 150+ million individuals across LATAM and the Caribbean, with plans for global expansion to follow.
How the funding will be used: Palla will utilize the funding to expand existing payment corridors and establish new ones for both sending and receiving transfers. The company also plans to introduce additional product lines and money movement mechanisms to serve its growing customer base better.
New board members: David Golden, Managing Partner at Revolution Ventures, and Heidi Miller, former President of JPMorgan International, will join Palla’s board as part of this round.
KEY QUOTES:
“Palla is setting a new standard for speed and accessibility in cross-border transactions. Their innovative approach to simplifying and securing international payments aligns perfectly with our investment philosophy. We are excited to support Enrique and his team as they expand Palla’s reach and help businesses and individuals connect financially across borders with ease.”
David Golden
“Palla is revolutionizing international payments, and this new funding brings the expertise and resources we need to scale to the next level. Our goal has always been to simplify and secure cross-border transfers, giving financial institutions the opportunity to make them faster, safer, and more user-friendly than ever before. This investment will accelerate our growth and further our mission to make international payments seamless and accessible to everyone.”
Enrique Perezalonso, CEO of Palla and a 20-year veteran of retail banking in Mexico and the U.S.
