Miami-based payments platform Palla raised $14.5 million in a Series A round led by Revolution Ventures. Y Combinator, Ardent, Cowboy Ventures, Dash Fund, Uncommon Capital, Meta Fund, Evolution VC, First Check Ventures, Vitalize, and DeepWork Capital also participated.
As part of the round, David Golden, Managing Partner at Revolution Ventures, and Heidi Miller, former President of JPMorgan International, will join Pallaâs board.
Palla provides an international payments platform that enables instant cross-border transfers for global financial institutions and fintech companies.
âOur goal is to simplify and secure cross-border transfers, giving financial institutions the opportunity to make them faster, safer, and more user-friendly than ever before,â said Enrique Perezalonso, CEO and co-founder of Palla
Palla will use the funding to expand its existing payment corridors and open new ones, both for sending and receiving transfers. It also aims to launch new products and money-movement solutions to better serve its growing client base.
Palla currently partners with more than 30 financial institutions and distribution networks, with additional partners expected to go live before yearâs end. Collectively, these partners reach over 150 million end users across Latin America and the Caribbean.
Read more: Business Wire
