Lumepay, a South African B2B cross-border payments and digital asset platform, has raised a $6 million pre-seed round from angel investors and South African fintech investors.
The round closed at the start of 2026, despite the current funding crunch for African fintech startups.
The company says it also secured about $10 million in capital float to anchor liquidity for its clients. The pre-seed capital was used to launch its products, build infrastructure and partnerships, and secure regulatory clearances.
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In April 2026, Lumepay launched Lumetrade, its digital asset and stablecoin trading venue. In June, it launched its cross-border payments platform for businesses across Africa. Together, the two products have attracted 6,000 businesses and individuals since launch.
In October 2026, the Central Bank of Kenya gave Lumepay regulatory clearance, and the company launched its payments solution there. Businesses in Kenya can now pay international suppliers in Chinese yuan, US dollars, Indian rupees, and other currencies. They can also move money across intra-African trade corridors.
Lumepay serves SMEs, corporates, and financial institutions. It is live in the West African CFA franc zone (XOF), the Central African CFA franc zone (XAF), Nigeria, Ghana, Tanzania, Malawi, Mozambique, and Kenya. It is waiting on further regulatory approvals in these markets to expand what it can offer.
The company combines traditional banking channels with digital asset infrastructure to process cross-border corporate payments. It says this makes payments faster and cheaper for businesses.
“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,” said Harry Huang, Chief Executive Officer of Lumepay.
“Our integrated approach addresses the real drivers of friction: fragmentation, liquidity inefficiency and execution risk,” Huang added.
Lumepay is led by Huang, Chief Operating Officer Luc Varejes and Chief Legal and Compliance Officer Tatenda Nhemachena. In South Africa, it works with Nedbank as its sponsoring bank for rand merchant collections and payouts. Standard Bank supports rand deposits and withdrawals for Lume Trade’s institutional clients, its digital asset business.
The company says it is now laying the groundwork for a Series A. It plans to expand its regulatory footprint across Southern, West, and Central Africa, with Malawi, Mozambique and the two CFA franc zones as key targets.
Last updated: November 10, 2026
