HiWiPay Raises $2 Mn In Seed Round Led By Unicorn India Ventures

Cross-border payments platform HiWiPay has raised $2 million in a seed funding round led by Unicorn India Ventures. 

The round also saw participation from Dewang Neralla's family office, Jupiter Metaverse LLP, and other angel investors such as Ritesh Malik, Mitesh Shah and Nilesh Doshi.

The startup plans to use the fresh funds to expand and enhance the trade remittance business, as well as scale up operations in the education remittances sector.

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Dewang Neralla, Co-founder HiWiPay, “Securing this funding is a significant milestone for HiWiPay as we continue our mission to revolutionize cross-border payments.This investment fuels our commitment to innovation, enable us to enhance our platform, expand our reach and deliver a frictionless experience for students and businesses globally. We are grateful for the trust our investors have placed in us and look forward to driving the next phase of growth.”

Anil Joshi, Managing Partner, Unicorn India Ventures, said, “There are major complexities of cross-border transactions and HiWiPay is tapping into this potential to make the process much easier. We have witnessed significant growth and believe HiWiPay’s highly innovative business model is ripe for disruption because of changing customer demands, emerging market growth, and financial inclusion. HiWiPay has been working tirelessly in that direction to meet the growing demand and the funding will help the company scale its services to a more advanced stage.”

About HiWiPay 

Co-founded in 2022 by Dewang Neralla, Geeta Chauhan, and Ujwal Tamminedi, the Mumbai-based HiWiPay is a cross-border payments platform that simplifies global transactions by removing paperwork and ensuring secure, compliant payments. It addresses issues like hidden exchange rate fees, high forex margins, compliance hurdles and documentation hassles.

HiWiPay streamlines payments for various industries, offering competitive exchange rates and real-time tracking for seamless transactions.

The company plans to launch a student app in the UK to expand across Europe. It has partnered with banks and NBFCs to help students secure education loans, making studying abroad easier. HiWiPay also aims to enter the SME trade remittance space and introduce co-branded forex cards and other financial services for students.

Over the next 12–18 months, HiWiPay aims to -

• Onboard 5,000 international students on its ap
• Process $100 million in remittances
• Double its network of education consultants to 1,000
• Support 1,000 SME exporters with trade remittance solutions
• Strengthen banking partnerships to offer better FX rates and payment efficiency.

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