Kenyan fintech startup, Payd, is building a global payments and money management platform designed specifically for the fast-growing distributed workforce, including freelancers, remote workers, creators, and businesses hiring talent across borders, particularly in emerging markets.
Founded in 2023 by Benaiah Wepundi and Japheth Achimba, Payd enables individuals and companies to receive money globally, hold it in stable value, and spend or transfer it locally with minimal friction.
The company positions itself as infrastructure for “global income in, local money out”, solving a persistent problem for millions of workers and businesses operating outside traditional financial centres.
“Most users never interact with wallets, chains, or tokens directly – they simply receive and use money as they would in their bank account,” Wepundi told Disrupt Africa. “The core value proposition is simple – global income in, local money out, reliably, affordably, and at scale.”
Solving the Cross-Border Payments Problem for Emerging Markets
Payd allows users to accept payments from abroad through virtual multi-currency accounts, payment links, invoices, reverse billing, APIs and platform integrations. Once funds are received, users can send or spend money through local bank transfers, mobile money, or cash-out options in their local currency.
Behind the scenes, Payd uses stablecoin-based settlement rails to move money faster and more reliably across borders, while abstracting away the technical complexity of crypto from end users.
The product is delivered through a consumer wallet, which is also accessible via WhatsApp for faster and simpler use, alongside a business platform for gig payroll and borderless spending, and a suite of APIs for platforms and enterprises.
The origins of Payd are rooted in the founders’ personal struggles with cross-border payments. Wepundi and Achimba both faced account suspensions, delayed payroll, and trapped funds while working with international clients and distributed teams.
“Myself and Japheth had our PayPal accounts suspended because of proof of address verification and irregular income. I equally ran a team of distributed talent across Kenya, Nigeria, Brazil and Philippines, working for a US company, and payroll was always a whole day off,” Wepundi said.
He added that Payd’s leadership team had collectively experienced blocked accounts, slow settlements, high fees and onboarding failures, issues that are common across emerging markets.
Rapid Growth and Expanding Global Coverage
Payd has taken a deliberately infrastructure-first approach, prioritising compliance, risk systems, settlement reliability and product clarity before rapid scaling. This strategy has enabled the company to launch across multiple markets relatively quickly.
Today, Payd supports collections and payouts in more than 35 countries across Africa, Latin America, Europe and the United States, with key markets including Kenya, Uganda, Tanzania, Rwanda, Nigeria, Zambia, Senegal and South Africa.
In December, the startup crossed US$1.6 million in monthly transaction volume, nearly doubling from November. At the same time, 66 businesses were active on Payd Business, while the consumer product reached almost 14,000 active users, with 5,000 new users joining in that month alone.
Payd has so far been funded through founder capital, angel investors, and non-dilutive funding from organisations including Mozilla Africa, LiskDAO, and Prezenti. The company is currently closing its first institutional funding round, with participation from Nairobi Business Angels Network (NaiBAN) and other investors.
The startup generates revenue through transaction fees on collections and payouts, foreign exchange margins, and B2B pricing for APIs, bulk payouts and business tools.
Payd reached break-even in September at an average monthly recurring revenue (MRR) of US$10,000 and is now targeting US$10 million in monthly transaction volume and US$300,000 in MRR over the next 12 months.
Deliberate, Infrastructure-Led Expansion
Payd’s expansion strategy is cautious and infrastructure-led rather than growth-at-all-costs.
The company said it is focused on adding more local payout corridors, strengthening inbound payment routes from the US, UK and EU, supporting more currencies and settlement rails, and selectively expanding into other emerging markets such as South East Asia.
It is also in the process of acquiring payment licences and forming regulator-approved local partnerships to deepen compliant access.
Payd currently works with partners including Yellow Card for payments across Africa, Bridge and Noah for multi-currency accounts, Blockradar for multichain stablecoin infrastructure, and Lisk for core blockchain settlement.
As remote work, freelance contracting and cross-border hiring continue to grow, experts say Payd is positioning itself as foundational infrastructure for the global workforce in emerging markets. Rather than competing on flashy features, the company is betting that reliability, compliance, and local relevance will determine long-term winners in global fintech.
Talking Points
It is significant that Payd is building payments infrastructure specifically for freelancers, remote workers, and businesses operating across borders in emerging markets, a group that is often underserved by traditional financial systems.
By enabling users to receive global payments, hold value reliably, and spend locally through familiar channels like bank transfers and mobile money, Payd directly addresses the friction, delays, and exclusion that have long characterised cross-border payments for this segment.
At Techparley, we see how platforms like Payd can unlock economic participation beyond financial centres, allowing talent in Africa and other emerging markets to compete and earn globally without being constrained by broken or inaccessible payment rails.
The abstraction of stablecoin infrastructure behind a simple user experience is particularly important, as it allows users to benefit from faster settlement and reliability without being exposed to technical complexity or regulatory risk.
However, there is still room to expand its reach and impact. Adoption will depend on how well Payd navigates regulatory environments, builds trust with users, and maintains reliability as transaction volumes and geographic coverage grow.
As Payd scales, strategic partnerships with platforms, employers, and financial institutions could accelerate onboarding and deepen its footprint across new markets. With the right execution, Payd has the potential to become a critical layer of infrastructure for the global distributed workforce in emerging economies.
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