Kapaga, a cross-border payment platform for small and medium enterprises, has raised £1.5 million in funding.

The round was led by Target Global with participation from FinTech angel investors Chris Adelsbach, Andreas Mihalovits and Mark Ransford.

Launched in 2021 by Katya Dorofejeva, Kapaga’s B2B payment services are designed to serve the globalised market of SMEs and startups. 

Its cloud architecture offers companies transparency and efficiency in streamlining cross-border payments, allowing them to send and bill money to 190+ countries in numerous currencies via one secure and streamlined application. 

Many SMEs lack access to a modern payment infrastructure or are rejected by traditional financial services providers who are very rigid in the types of solutions they can offer their clients. Targeting this underserved segment of newly formed businesses, Kapaga has won the trust of more than 150 clients, by giving them the ability to scale their businesses internationally and contributing to the overall success of the company.

With a rapidly growing team of more than 20 employees who work remotely from across the globe, Kapaga will be expanding its operations across the EU this summer. This will allow Kapaga to continue to build out its platform as it looks to introduce mass global payments and virtual cards in the coming months.  

“We are excited to offer our customers an unrivalled experience when it comes to accessing a reliable and transparent tool for cross-border payments,” said Dorofejeva. 

“Our value lies in our ability to remove hurdles when it comes to opening business bank accounts and offering payment services at a fraction of the cost versus high street banks and legacy providers. We aim to board and activate customers in under 48 hours, start to finish. 

“All of this is now available through one application and one dashboard to stay in control of your payments.”

‘Launching my first business at 50 is the best thing I ever did’