Leap Financial, a Miami-based fintech startup, has raised $3.5 million in seed funding, with Fuel Venture Capital leading the round. Additional investment came from Ascendo Venture Capital. Leap offers a seamless solution for financial and non-financial institutions to participate in cross-border money flows, addressing inefficiencies and helping immigrants send money back home. Specializing in embedded remittances and payments, Leap provides AI-powered engagement, efficient cross-border transactions, and integrated end-to-end payment solutions.
Revolutionizing Cross-Border Payments
Leap Financial combines its proprietary X-Border Payments Platform with an AI-driven super agent, Lola, along with its existing infrastructure for embedded financial banking and payment services. The company is transforming traditional cross-border transfers by removing cash from the equation, providing more secure, compliant, and cost-effective digital remittances. While traditional money transmitters charge 6-10% in fees, Leap’s remittances cost less than 1%, allowing partners to decide the pricing model.
A Commitment to Financial Expertise and Innovation
“Many companies attempt to tackle remittance and fintech, but they often excel in technology while lacking the necessary financial expertise,” said Maggie Vo, Managing General Partner and Chief Investment Officer at Fuel Venture Capital. “Leap stands out with a team deeply knowledgeable in remittance, banking infrastructure, and compliance—expertise the founders have built over years in the industry. We’re investing not just in great technology and AI but in an AI-driven approach backed by professionals who truly understand the business.”
Leap was founded to help immigrants overcome financial disparity and change outdated practices that result in excessive fees. “We can do better and still be profitable. Like Jeff Bezos’s famous quote, ‘Your margin is my opportunity,’ we say, ‘Your inefficiency is our opportunity,’” said Lionel Carrasco, CEO and Co-Founder of Leap.
Strengthening AI and Expanding Services
The newly raised capital will enable Leap to meet growing demand, fueled by its strategic partnership with Mastercard and expanded business development efforts. Leap plans to use the funds to enhance its AI capabilities, helping financial and non-financial institutions employ AI agents for personalized services.
“As an immigrant myself, Leap’s vision to help immigrants send money back to their loved ones truly resonates with me, and I understand the unique challenges faced by immigrants from emerging markets,” added Vo.
A White-Label Solution for Global Remittances
Leap, founded by Lionel Carrasco and Marcela Henao, has partnered with federal banks to originate remittances leveraging Mastercard and aggregators, sending money directly to debit cards and wallets worldwide. This eliminates intermediaries, improves cost efficiencies, and enhances anti-money laundering controls for seamless compliance. Leap’s white-label solution enables remitters to pay digitally and instantly deliver funds to cards a
