South African fintech Lumepay has disclosed a US$6 million pre-seed round as it expands its cross-border payments business into East Africa. The Cape Town-founded company said it had also secured about US$10 million in liquidity to support customer transactions.
The funding round closed at the start of 2026 and was disclosed this week. Angel investors and South African fintech backers participated. Lumepay said it used the funding to build its payments technology, establish banking partnerships and secure regulatory clearances. The US$10 million in liquidity helps the company fund transfers as customers move money between currencies and markets.
Kenyan businesses can pay overseas suppliers
Lumepay said it received regulatory clearance from the Central Bank of Kenya in October and launched its payments service in the country. Kenyan businesses can use the platform to pay international suppliers in currencies including Chinese yuan, US dollars and Indian rupees. The service also supports payments between African markets.
The platform can route transactions through conventional banking channels or use stablecoins, digital tokens designed to track the value of a currency. The choice depends on the payment route. For a Kenyan importer paying a supplier overseas, the service brings currency conversion and the transfer into the same platform.
Two products underpin expansion
Lumepay introduced Lumetrade, its digital asset and stablecoin trading platform, in April, followed by its business payments service in June. The company says the two products have attracted 6,000 businesses and individuals combined since launch.
The company has reported activity in markets including Ghana, Nigeria and Tanzania, as well as in parts of West and Central Africa served through licensed partners. It says some additional payment capabilities still require regulatory approvals. Lumepay is preparing for a Series A funding round as it seeks to expand its network of banks and payment partners.
NewsHub Finance | African Fintech | 13 November 2026
South African fintech Lumepay has disclosed a US$6 million pre-seed round as it expands its cross-border payments business into East Africa. The Cape Town-founded company said it had also secured about US$10 million in liquidity to support customer transactions.
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