26th May 2022, London, 9:00am: Kapaga, the UK-based cross-border payment platform for small and medium enterprises (SMEs), has announced a £1.5m funding round led by Target Global and with participation from well-known angel investors in the fintech space, Chris Adelsbach, Andreas Mihalovits, and Mark Ransford.

Launched  in 2021 by Katya Dorofejeva, Kapaga’s rapid success is a testament to the versatile payment solutions it offers its clients. Kapaga has a host of B2B payment services designed to serve this smaller but no-less globalised market of SMEs and start-ups. Kapaga’s cloud architecture offers companies transparency and efficiency in streamlining cross-border payments, allowing them to send and bill money to 190+ countries in numerous currencies via one secure and streamlined application. 

Many SMEs lack access to a modern payment infrastructure or are rejected by traditional financial services providers who are very rigid in the types of solutions they can offer their clients. Targeting this underserved segment of newly formed businesses, Kapaga has won the trust of more than 150 clients, by giving them the ability to scale their businesses internationally and contributing to the overall success of the company.

With a rapidly growing team of more than 20 employees who work remotely from across the globe, Kapaga will be expanding its operations across the EU this summer.  This will allow Kapaga to continue to build out its platform as it looks to introduce mass global payments and virtual cards in the coming months.  

Katya Dorofejeva, Kapaga’s CEO said, “We are excited to offer our customers an unrivalled experience when it comes to accessing a reliable and transparent tool for cross-border payments. Our value lies in our ability to remove hurdles when it comes to opening business bank accounts and offering payment services at a fraction of the cost versus high street banks and legacy providers. We aim to board and activate customers in under 48 hours, start to finish. All of this is now available through one application and one dashboard to stay in control of your payments.”

Ricardo Schaefer, Partner at Target Global said, “We’re excited to back Kapaga, a tool that we believe represents a true stepchange in the direction the global payments industry is moving in. Kapaga delivers a democratised solution across all SMEs, allowing them to grow and scale their businesses globally in a seamless way. We are confident that given its unique technology and Katya’s strong leadership, it will go on to become an industry leader in the years to come.”

About Kapaga  

Kapaga is a cross-border payments platform opening business accounts and providing multi-currency payment services to small and medium-sized companies in the UK, and soon to Continental Europe.. It delivers cloud-based technologies to automate customer onboarding and streamline international payments. In one year, Kapaga has redefined what Fintech means to its SME customers by providing integrated payment solutions and subsequently, a greater international presence.  To learn more about Kapaga please visit: https://kapaga.com/ 

About Target Global

Target Global is a pan-European technology investment firm with more than €3 billion in assets under management. It invests in companies across all stages of their lifecycle, from pre-seed to pre-IPO.

Since 2012, Target has invested in global winners including Delivery Hero, Revolut, Auto 1 Group, Copper, Rapyd, Wefox, Flink, Cazoo, and many others. Target’s experienced team of investors, many of whom began their journeys as founders and operators, help exceptional entrepreneurs build leading companies that target trillion-dollar markets.

To date, Target has backed 15 unicorns, had 21 exits and 7 realized IPOs. Target has six offices around the world with investing offices across Berlin, London, Tel Aviv, and Barcelona.

To learn more about Target Global, please visit: https://www.targetglobal.vc .