South African fintech startup Lumepay has announced a $6 million pre-seed funding round to expands its cross-border payment infrastructure across African markets.
The round, backed by founder-led angel investors and South African fintech investors, closed earlier in 2026. The company also secured a separate $10 million capital float to provide liquidity for business transactions.
The company launched its stablecoin trading platform, Lumetrade, in April, followed by its business payments platform in June. The platform now operates across the CFA franc zone countries, Nigeria, Ghana, Tanzania, Malawi, Mozambique and Kenya, with regulatory approvals in additional markets still pending.
In October, Lumepay received regulatory clearance from the Central Bank of Kenya, enabling its entry into East Africa.
For Black founders building fintech businesses, Lumepay’s expansion shows the opportunities in cross-border payment infrastructure and solutions addressing foreign exchange access, transaction liquidity, and fragmented payment systems across African markets.
