Investment Sep 2018 | Assembly Capital Partners FinTech I LP
PayKii provides a hub of functionality that money transfer firms can link to and thus offer their retail customers cross-border bill payment. We believe cross-border bill payment of – for example, utility bills or insurance premia – should be attractive to the consumer as it means workers abroad can ensure funds sent home are used for the purposes intended.
PayKii’s ability to enable domestic bill payment in markets such as e.g., India is a significant economic asset in its own right. The firm is in discussions with some of the largest tech and telecom firms in the world about facilitating such payments.
Within cross-border bill payment, there has been strong interest from the US majors and in the UAE. In the US, the PayPal Group (through Xoom) is a client and PayKii is continuing trials with Western Union. Bill payment capability is now available to Western Union’s US clients both via App and in selected physical locations. PayKii continues to build out its book of billers (today 600+) and payment channels by country.
Both David and Michael are Angel investors in PayKii. Michael is a Board member. ACP is delighted to be supporting Paykii’s global growth.
Last updated: March 2021