Fintech startup Seva Money raises £3.7m from Blockwall and Revent
This article covers Seva Money, a UK fintech startup, which has raised $5m (£3.7m) in a seed funding round to scale a receive-side platform that turns one-off remittances into ongoing financial relationships. The funding will support product development and partnerships with money transfer operators (MTOs), targeting remittance recipients and aiming to create recurring services across major remittance corridors.
Seva Money, a UK fintech startup, has raised $5m (£3.7m) in a seed funding round to scale a receive-side platform that aims to turn one-off remittances into ongoing financial relationships. The funding will support product development and partnerships with money transfer operators (MTOs) across key remittance corridors, a market the company says is worth around $1 trillion annually.
Why it matters
Remittances move vast sums every year, but the relationship between MTOs and recipients commonly ends at payout. That leaves an opportunity for new services that extend beyond the single transaction: wallets, cards and embedded benefits that keep customers engaged and create recurring revenue for operators. Seva Money’s proposition targets that gap by focusing on the person receiving the funds rather than only the sender or the rails that move money.
If widely adopted, the model could change unit economics in remittance corridors by turning a one-off transfer into ongoing engagement. Seva says its approach can increase customer retention by 29%, and it plans to commercialise that uplift across corridors where remittance flows are large and frequent.
Inside the product
Seva Money builds what it calls "Unified Remittances" on the receive side: a white-labelled wallet and card solution integrated into existing MTO transfer flows. The platform links traditional fiat rails with stablecoin rails, enabling operators to route incoming payments into a recipient-facing digital wallet that supports card spending, rewards, savings, healthcare and other embedded services.
The product is designed so MTOs do not need to build their own wallet, card infrastructure or service stack. Instead, Seva offers an API and branded proposition that MTOs can add to their payout process, letting recipients access services immediately after money arrives. The company says services are already live in India and Mexico, with rollouts planned in the Philippines, Kenya, Nigeria, Tanzania and Ghana over the next 12 months.
Who are the investors?
The seed round was co-led by Blockwall and Revent, with participation from pre-seed investors Seedcamp, Stride.vc and Ada Ventures. The financing also includes angel backers with domain experience, such as Husayn Kassai (founder of Onfido), Benjamin Fernandes (founder of Nala) and Michael Kent (founder of Tandem Bank and Azimo).
In the announcement, Will Bennett, Principal at Seedcamp, said:
It's been a pleasure to work with Ritu and team Seva Money as they drive the future of cross-border money transfer. By combining stablecoin rails with embedded rewards, Seva Money has created a genuine 10x experience for receivers of remittance payments in India and beyond.
In the announcement, Damien Roch, Partner at Blockwall, said:
We're thrilled to support Seva Money as it enters its next phase of growth. Blockwall has been a long-standing investor in the stablecoin ecosystem, and it's exciting to see stablecoin technology now going live within the infrastructure of the market's larger remittance players.
In the announcement, Dr. Lauren Lentz, Founding Partner at Revent, said:
Almost a trillion dollars is moved annually in global remittances - but the underlying business model is broken. Seva Money uniquely addresses the challenge of those moving the money by focusing on the ones benefiting from it. Their Stablecoin-powered card unlocks financial and health benefits for beneficiaries, giving cross-border families more control and security and money transfer organisations (MTOs) a recurring business model. Revent is thrilled to partner with this uniquely qualified team on their mission to transform modern remittances.
In the announcement, Gabbi Cahane, Partner at Stride.vc, said:
Remittance is a trillion-dollar industry that keeps less than a dollar of every thousand it moves, because once the money lands, the MTOs walk away. This is a race to the bottom. Ritu has spent twenty years on the front lines of this space, and it's hard to find better founder-market fit for building exactly what's missing. Seva Money delivers the medicine, the doctor's visit, the savings and the peace of mind that turn a single transaction into a recurring relationship. Send-to-spend is where this category goes next, and we're proud to have backed Ritu from the start.
Investors point to the combination of stablecoin rails and embedded services as the technical and commercial rationale: stablecoins can speed and simplify certain flows while the receive-side services create new monetisation and retention levers for existing MTO corridors.
If you're researching potential backers in this space:
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Founder perspective
In the announcement, Ritu Soni, Founder and CEO of Seva Money, said:
MTOs have spent decades competing for the transaction, largely on price and FX. But the real opportunity is what happens after the money arrives. The receive side has been overlooked, and that is where we believe the next major opportunity sits. 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.
Soni is a product leader who previously held senior roles at WorldRemit, Paysafe, Skrill and Lebara Money and is a London Business School alumna. She positions Seva’s mission as shifting remittances from a payment event into a broader set of services — protection, healthcare, savings and credit — delivered on a branded card.
The bigger picture
Seva’s raise reflects two connected trends in UK fintech and global remittances: interest in stablecoin rails as a practical infrastructure layer and a commercial push to extract more lifetime value from remittance customers. The company’s UK base and investor mix illustrate continued appetite among fintech investors for startups that combine payments plumbing with consumer-facing services.
How quickly MTOs adopt receive-side propositions will depend on regulatory clarity around stablecoins and cross-border rails, and on operational willingness to partner rather than build. For the UK and European fintech ecosystem, the deal is another example of capital flowing into infrastructure plays that promise new monetisation models for legacy financial flows.
They've invested in Seva Money
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