BAT-VC, a leading venture capital firm specializing in fintech and cross-border innovations, has announced a strategic growth investment in Payall Payment Systems. The investment will accelerate Payall's mission to provide institutional-grade infrastructure enabling banks and financial institutions to offer safe, low-cost, and transparent cross-border payments.
It comes as U.S./India remittances and trade continue to grow.
India is the world leader in remittances, receiving over $120 billion in 2023.
The U.S. is the single largest source— about $30–35 billion annually and rising.
U.S. total trade with India was an estimated $129 billion in 2024.
U.S. exports to India in 2024 was nearly $42 billion, up 3.4 percent from 2023.
U.S. imports from India totaled $87 billion in 2024, up 4.5 percent from 2023.
Gary Palmer, founder and CEO of Payall noted, “Payment flows between the U.S. and India, whether for remittances, B2B or B2P are massive and growing. BAT-VC’s knowledge and trusted network of quality institutions and professionals in India, as well as deep payment technology expertise, represent invaluable assets that will benefit Payall in addition to capital. I’m thrilled and grateful to have Aditya, Ravi and Manish as resources actively helping us grow.”
Ravi Metta, General Partner of BAT-VC noted, “Payall’s positioning as a cross-border risk, compliance and payment orchestration specialist for banks and other financial institutions is a highly differentiated and capital efficient way to scale. Moreover, from a bank’s perspective, Payall’s easy-to-adopt breakthrough capabilities are needed to properly address perhaps the most complicated and high-risk product their customers want. We’re delighted to help Payall execute their strategy and grow.”
Adding to this sentiment, Gary noted, “Working at a bank, especially as a product executive, risk or compliance officer, or tech manager has never been more difficult. Tech and product budgets are consumed by protecting data and systems from bad actors. The care and feeding of hundreds of applications, as well as the onslaught of regulatory changes across most product lines, including the especially challenging issues with new and expanding sanctions. Add to this already heavy burden, new product challenges from digital innovators – it's understandable that banks, credit unions, building societies and other financial institutions struggle to innovate generally and can do little with cross-border payments – that’s why we’re here.”
Payall is deploying this new capital to accelerate its global payout partner connections and sales to originating institutions, correspondent banks and regulators, as well as further distinguish its breakthrough counterparty risk management, multi-jurisdictional compliance automation and AI deployment.
This funding adds to the previous funding from a16z, Ventura Capital, Motivate Venture Capital, Thomson Reuters, Presidio Ventures / Sumitomo Corporation, RRE and PS27 and high net worth banking and fintech industry leaders.
About Payall. Founded in 2018 and based in Miami Beach, Florida, Payall is the world’s first provider of infrastructure for financial institutions to make cross-border payments safe, efficient, transparent and inclusive. Inspired by first-principles, the company developed proprietary tech for an end-to-end, modular suite of adaptable capabilities that elevate and harmonize counterparty risk management, digitize multi-jurisdictional compliance workflows, intelligently orchestrates multi-currency and pay-out channels globally, delivers unprecedented consent managed transparency and real-time transaction surveillance and intervention. Correspondent banks, the backbone of cross-border payments, have declined by 25% over a decade under the weight of investigations, fines, excessive costs and face pressure to exit. But now, Payall’s purpose-built software overcomes these challenges.
Payall’s technology enables easy, low-cost access to alternatives or complements to correspondent banking, such as Mastercard Move creating never before possibilities for originating institutions. By partnering with Payall, regulated financial institutions around the world can quickly, securely and seamlessly implement and execute cross-border payments—enabling market-specific opportunities for financial institutions to compete with or drive fintech solutions.
About BAT-VC. BAT-VC is an early-stage venture capital fund focused on providing hands-on partnerships with founders during their critical product-market fit journey. The fund offers a unique value proposition of shared U.S.-India market access, helping startups scale across both ecosystems. They take an AI-first approach and primarily invest in AI, Fintech, and Enterprise SaaS startups with global ambitions. Their model emphasizes active involvement with portfolio companies rather than passive investment, positioning themselves as strategic partners for visionary founders looking to expand internationally between the U.S. and Indian markets. www.bat-vc.com
