Routefusion

Founded by software engineers Colton Seal and Richard Scappaticci, Routefusion offers an API-based infrastructure for neo-banks, payroll providers, platforms, crypto, and marketplaces, to access cross-border banking and payment services. The infrastructure enables users to connect with banks, foreign exchange providers, and local payout partners, globally, including AFEX, MoneyCorp, Cambridge, and Nium, among others. Through this users can access several services, including SWIFT wire payments, mass payouts, multi-currency bank accounts, and beneficiary validation, among others. The platform was reportedly mainly used for B2B payments as of January 2022.

The company claims that it gains an edge over other payment infrastructure providers as it is founded by two software engineers (similar to payment giant Stripe), which offers superior documentation and ease for developers.

In the 11 months leading to January 2022, the company’s revenue reportedly grew by around 5,000% (51x) to a “seven-figure” sum, as its customer base almost doubled to 40 customers, including Synapse, Jeeves, Novel, PaymentLabs, and Wyre.

Routefusion raised USD 10.5 million in seed funding in January 2022, to invest in expanding its global presence, particularly in Latin America and Africa, and plans to reach around 180 countries and over 150 currencies. Moreover, it also intends to expand its workforce, particularly in product and marketing teams, to over 40 employees by end-2022 (from around 20 in January)