Seva Money raises $5M to turn remittances into relationships - Seedcamp

Money transfer operators (MTOs) move billions of dollars in remittances every year.
But while significant innovation has been focused on making money cheaper, faster and easier to send, the relationship between MTOs and their customers tends to end as soon as the money has been sent.
Seva Money sees that as a missed opportunity.
Today we’re delighted to reinvest after their inception round, as they announce their $5M pre-seed co-led by Blockwell and Revent.
Seva Money lets MTOs connect their existing transfer infrastructure to a wider set of financial services for the people receiving the money. The platform runs on both fiat and stablecoin rails and supports uses from everyday spending to savings and healthcare.
For example, someone in the UK can top up a card held by a parent in India. That card then gives the parent access to emergency care, discounts on specialist appointments and diagnostic tests, and visits from a care manager.
The result is a win-win for both parties: MTOs gain a second, recurring revenue stream, while families get products that support their health and financial wellbeing.
Founder Ritu Soni has held senior product roles at WorldRemit, Paysafe, Skrill and Lebara Money. She built Seva Money for a moment many migrants know well: when family abroad needs support, and sending money doesn’t feel like enough.
“We are building the infrastructure that allows MTOs to stay connected to their customers beyond the payout, turning a one-time transfer into an ongoing relationship. This funding gives us the ability to scale that infrastructure and bring the receive-side proposition to more markets and more MTOs.”
Will Bennett, Principal at Seedcamp, said: “It’s been a pleasure to work with Ritu and the Seva Money team. By combining stablecoin rails with health and financial services on the receiving side, Seva Money gives families in India and beyond far more than a cash transfer.”
Seva’s receive-side services are live in India and Mexico. Over the next 12 months it plans to launch in the Philippines, Kenya, Nigeria, Tanzania and Ghana.
Seedcamp Investment Management LLP is a limited liability partnership incorporated in England and Wales with registered number OC391626 as authorised and regulated by the Financial Conduct Authority with FCA number 628313.