Palla raises $14.5M to power instant cross-border payments for banks
Summary
Why is it still so hard and so expensive to send money across borders?That is the question Enrique Perezalonso and his team at Palla are working to solve.Palla, based in Miami, is now embedded in more than 30 financial institutions across Latin America and the Caribbean. With its $14.5 million Series A round led by Revolution Ventures, the company is aiming to push even further streamlining how money moves between people, countries, and currencies.Perezalonso and his team built Palla not as a consumer-facing app, but as an infrastructure layer. Banks create embedded payment links within their own apps fully branded and seamless to their customers, Perezalonso, Pallas CEO and co-founder, told Axios. And crucially, its the banks who own the relationship with the end user, not Palla.That behind-the-scenes approach is what caught the attention of investors like David Golden, managing partner at Revolution Ventures. Leap Financial raises $3.5M to send ripples through the remittance industry With 10 million users in tow, Paysends big bet on Miami is paying off