Fintech Ping raised $15 million in seed funding from a group of investors, including Y Combinator, Race Capital, BlockTower, Danhua Capital, Signum Capital and Goat Capital.
Ping is a global payments and invoicing solution that aims to solve payment challenges in Latin America, where about 70% of the population does not have a traditional bank account. The platform has a digital payment tool, available on Android, iOS and desktop, that facilitates international payments for remote workers, contractors and freelancers in both their local currency and in fiat and cryptocurrency.
Ping allows users to create a free account in US dollars to receive bank transfers in either their local currency or crypto, to and from anywhere in the world. It also provides an invoicing system so that freelancers and contractors can send invoices to their employers.
The funding will be allocated in team expansion, including hires for marketing and sales, and into product development for a monthly subscription premium feature.