TerraPay
Founded Year
2014Stage
Loan - III | AliveTotal Raised
$258.43MLast Raised
$30M | 3 mos agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-70 points in the past 30 days
About TerraPay
TerraPay operates as a cross-border payment network. The company simplifies the movement of money worldwide by providing direct access to global markets through a single connection. Its services primarily cater to partners seeking global financial inclusion. It was founded in 2014 and is based in London, United Kingdom.
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TerraPay's Product Videos
TerraPay's Products & Differentiators
Person-to-Person Remittances
Powering instant small-value P2P cross-border payment transfers to Mobile wallets and Bank accounts globally
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Expert Collections containing TerraPay
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
TerraPay is included in 3 Expert Collections, including Payments.
Payments
3,034 items
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Fintech
13,413 items
Excludes US-based companies
Fintech 100
100 items
Latest TerraPay News
Oct 31, 2024
By Gloria Mathias Share TerraPay , a global money movement company, has partnered with Yape , the superapp of Peru, to promote financial inclusion and accessibility. This collaboration will enable all participating partners in the Terrapay Global network to send seamless international money transfers directly to Yape users. This will allow them to instantly access their funds and take advantage of a wide array of financial services within the app. With a population of 32 million, Peru has become a significant player in the remittance landscape, receiving $4,446 million in remittances in 2023. The demand for efficient and user-friendly financial solutions is paramount, especially among the unbanked, which accounts for approximately 40% of the adult population in Peru. The key benefits of the partnership are: Immediate Access: Yape users will no longer need to visit physical branches to receive international transfers, making the process more convenient and efficient. Diverse Functionality: Users can immediately utilise the received funds across various app features, promoting a cashless economy and fostering greater financial inclusivity. Enhanced User Base: Over 5 million Yape users who previously did not have access to the BCP financial system will benefit significantly from this initiative, highlighting the transformative impact of digital wallets in underserved communities. “By collaborating with TerraPay, we are not just improving the remittance process; we are enhancing the overall financial experience for millions of Peruvians,” said Carolina Arbulú, Head of Payments Products of Yape. “This partnership empowers users, especially those who have historically lacked access to banking services, to receive and utilise their money instantly, thereby integrating them into the digital economy.” Ambar Sur, CEO of TerraPay, stated, “This partnership is a significant step towards achieving our vision of connecting a borderless financial world leveraging digital wallets. By partnering with Yape to become a member of our global digital wallet network, we are not only facilitating easier remittance solutions but also empowering millions of individuals to take part in the global economy.” The collaboration will cover all regions of Peru, allowing users to benefit from cross-border remittances originating from TerraPay’s extensive sender network, which encompasses nearly all countries. Key corridors for remittances include Chile, the USA, and Spain, which are critical to supporting the financial needs of Peruvian families and communities. Previous Article
TerraPay Frequently Asked Questions (FAQ)
When was TerraPay founded?
TerraPay was founded in 2014.
Where is TerraPay's headquarters?
TerraPay's headquarters is located at 107 Cheapside, London.
What is TerraPay's latest funding round?
TerraPay's latest funding round is Loan - III.
How much did TerraPay raise?
TerraPay raised a total of $258.43M.
Who are the investors of TerraPay?
Investors of TerraPay include Belgian Investment Company for Developing Countries, Finnish Fund for Industrial Cooperation, British International Investment, International Finance Corporation, ILX Management and 8 more.
Who are TerraPay's competitors?
Competitors of TerraPay include Zepz, Nium, Airwallex, PaySend, MoneyGram and 7 more.
What products does TerraPay offer?
TerraPay's products include Person-to-Person Remittances and 4 more.
Who are TerraPay's customers?
Customers of TerraPay include Western Union, Network International, VISA and CongoPay.
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Compare TerraPay to Competitors
Payall operates as a cross-border payment processor for banks operating in the financial technology sector. The company offers automated compliance and risk management solutions to facilitate international transactions. Payall's technology provides a global platform with accounts and special-purpose payment processing for global payments, along with payout options for recipients. It was founded in 2018 and is based in Miami Beach, Florida.
ZEPZ focuses on providing digital payment solutions. The company offers services enabling users to send money securely with options for bank deposit, cash collection, mobile airtime top-up, and mobile money. ZEPZ primarily serves the global payments industry. Zepz was formerly known as WorldRemit. It was founded in 2010 and is based in London, United Kingdom.
TransferGo specializes in digital money transfers and international remittance services. The company offers transfer services to individuals and businesses, enabling them to send funds to over 160 countries. TransferGo's platform supports various payment methods, including bank-to-bank transactions, card-to-card payments, e-wallets, and cash transfers, catering to the diverse needs of its global customer base. It was founded in 2012 and is based in London, United Kingdom.
Globokas operates as a financial services provider specializing in the management of correspondent agent networks and financial inclusion initiatives. The company offers services such as telecommunications recharges, financial transactions, and management of correspondent agent networks, aiming to facilitate secure and efficient financial operations. It primarily serves the financial sector, with a focus on expanding access to banking services. It was founded in 2007 and is based in Lima, Peru.
Merchantrade operates as a service provider in the financial technology sector, with a core focus on cross-border money transfers, mobile money, and electronic payments. The company offers services such as international money transfers, foreign currency exchange, wholesale banknotes, and digital wallet services, along with a payment gateway, mobile telecommunications, and micro insurance. Merchantrade primarily serves the e-commerce industry. It was founded in 1996 and is based in Petaling Jaya, Malaysia.
Global66 operates a fintech company. It offers a range of online financial services, including multi-currency accounts, international money transfers, and a Mastercard for payments in any currency without exchange rate costs. Its primary customers are individuals and businesses seeking to manage their finances and make transactions in multiple currencies. The company was founded in 2018 and is based in Santiago, Chile.
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