According to Stockhead, Lifepay recently secured a Series A investment of up to USD 2.5 million at a pre-money valuation of USD 20.5 million, giving Novatti’s investment a paper valuation of USD 5.125 million. The company will also generate revenue through the platform via services including cross-border payments and the issuing of Visa Prepaid cards.
Moreover, the Lifepay platform includes a digital banking service, with access to bank accounts, pre-paid Visa cards and digital transfer services including instant transfer and bill-split features for friends and family members. Additionally, it offers a one-stop shop for different tech payment features such as QR codes, Tap and Go and peer-to-peer transfers, as well as bill payments (such as BPAY). The platform is currently undertaking a soft launch for 200 customers, with a full launch scheduled for early March 2021.
Furthermore, by leveraging Novatti’s existing licences and compliance functions as a payments provider, the company plans to expand Lifepay's platform feature set to include functions such as international transfers, Stockhead reported.
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