HiWiPay Secures USD 2 Mn to Transform Cross-Border Payments The fresh funds will be used to expand its trade remittance business and scale up its operations in the education sector.

By BIZ Experiences Staff

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HiWiPay Founders

HiWiPay, a cross-border payments platform, has raised USD 2 million in a seed funding round led by Unicorn India Ventures. The round also saw participation from Dewang Neralla's family office, Jupiter Metaverse LLP, and angel investors including Ritesh Malik, Mitesh Shah, and Nilesh Doshi.

Founded in 2022 by Dewang Neralla, Geeta Chauhan, and Ujwal Tamminedi, HiWiPay simplifies international payments by offering competitive exchange rates, real-time tracking, and a hassle-free digital experience.

The fresh funds will be used to expand its trade remittance business and scale up its operations in the education sector.

"Securing this funding is a significant milestone for HiWiPay. It enables us to enhance our platform, expand our reach, and offer a seamless payment experience for students and businesses worldwide," said Neralla.

Over the past year, HiWiPay's education remittance platform has onboarded over 500 study abroad consultants, facilitating student payments globally. The company is now launching the HiWiPay Student App in the UK and aims to expand across Europe. Additionally, it has partnered with banks and NBFCs to provide education loans, making studying abroad more accessible.

Looking ahead, HiWiPay is set to enter the SME trade remittance space and introduce co-branded forex cards. The company also plans to onboard 5,000 students, facilitate USD 100 million in remittances, and double its network of education consultants within the next 18 months.

"HiWiPay is tapping into a high-growth market, addressing complexities in cross-border transactions with an innovative model," said Anil Joshi, Managing Partner, Unicorn India Ventures.

With a vision to become a global payment orchestrator, HiWiPay is poised to redefine international remittances with transparency, efficiency, and financial inclusion at its core.
BIZ Experiences Staff

BIZ Experiences Staff

Editor

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