South African fintech startup Lumepay has disclosed a US$6 million pre-seed funding round as it develops cross-border payment services for African businesses.
The Cape Town-founded company announced the investment on 10 November, confirming that the round closed earlier in 2026. It was backed by founder-led angel investors and South African fintech investors. Lumepay serves small and medium-sized enterprises, corporates and institutional clients.
Investment supports payment infrastructure
Alongside the pre-seed investment, Lumepay secured approximately US$10 million in capital float to support client transaction liquidity. This is separate from the US$6 million funding round.
According to the company, the investment helped establish its technology infrastructure, banking partnerships, security systems and regulatory permissions, supporting its initial entry into the market.
Combining traditional finance and digital assets
Lumepay’s approach brings traditional financial services and stablecoin technology together to facilitate business payments across borders.
The company launched Lumetrade, its digital asset and stablecoin trading platform, in April 2026, followed by its broader cross-border payments platform in June.
Chief executive Harry Huang said the business aims to make international transactions more reliable and competitively priced for African companies.
“When businesses can move money reliably and cost-effectively, they stop managing constraints and start unlocking growth,” Huang said.
Kenya marks a step in regional expansion
Lumepay says it received clearance from the Central Bank of Kenya in October 2026 and launched its payments solution in the country.
Its Kenyan offering enables businesses to pay international suppliers in currencies including US dollars, Chinese yuan and Indian rupees. The company is also working to expand its capabilities and regulatory presence across Southern, West and Central Africa, including Malawi, Mozambique and the CFA franc regions.
Preparing for its next funding stage
Lumepay reports that its payments platform and Lumetrade have collectively attracted 6,000 businesses and individuals since launch.
With its initial products operating, the company says it is laying the groundwork for a Series A round to support its next phase of growth.
