Leap Financial Secures $3.5M Seed Funding to Revolutionize…

Team S · 2024-12-20T13:43:14.000Z

Miami-based fintech startup Leap Financial has successfully raised $3.5 million in a seed funding round led by Fuel Venture Capital, with participation from Ascendo Venture Capital. The company aims to transform the landscape of cross-border money transfers, particularly for immigrants sending money home. - Total raised: $3.5 million - Lead investor: Fuel Venture Capital - Participating investor: Ascendo Venture Capital - Embedded remittances and payments - AI-enhanced engagement - Efficient cross-border transactions - Integrated end-to-end payment solutions Technology Stack: - Proprietary X-Border Payments Platform - Native AI super agent named Lola - Embedded financial banking and payment services infrastructure Cost Efficiency: - Traditional money transmitters: 6-10% on total remittance cost - Leap Financial: Under 1% of the cost People - Lionel Carrasco: CEO and Co-Founder of Leap - Marcela Henao: Co-Founder of Leap - Maggie Vo: Managing General Partner and CIO of Fuel Venture Capital Strategic Partnerships: - Mastercard - Federal banks for remittance origination Planned Use of Funds: - Respond to growing demand from Mastercard partnership - Acquire talent to enhance AI capabilities - Develop personalized AI agents for financial services

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Leap Financial Secures $3.5M Seed Funding to Revolutionize… | Newnex