Storspay

Storspay operates a cross-border business-to-business payments service connecting North America, the UK and Europe with 26 countries across Africa, Latin America and Asia. Customers fund payments in USD, CAD, GBP or EUR and recipients are paid into local bank accounts or mobile-money wallets, with flows supported in both directions so businesses and workers in markets such as Nigeria, Kenya, Ghana, Côte d'Ivoire, South Africa, Mexico, Brazil, Colombia, Cambodia and Sri Lanka can also be paid in hard currency. The company advertises same-business-day settlement against the three-to-five days it attributes to SWIFT routing, a single 2% all-in fee versus the 5–7% it attributes to bank wires, mid-market exchange rates, and an optional 0.75% (minimum $5.00) flat fee on transfers into US, Canadian, UK and European bank accounts. Around 30 currencies are listed. The product supports batch uploads for paying an entire team at once, automatic splitting of amounts above local caps under a single reference, and the company states it never holds customer funds, positioning itself as a layer between the sender's bank account and the recipient's local account.

The company frames the problem it addresses as correspondent banking, FX desks and SWIFT imposing fee and spread losses of 5–7%, multi-day settlement, opaque tracking for senders and recipients, and products designed for large banks rather than small and medium businesses paying global teams.

At an earlier stage, Storspay was described as a decentralized retail lending infrastructure platform connecting retail investors in North America seeking alternative asset yield with small businesses worldwide seeking affordable working-capital financing. That version of the product used APIs, software and stablecoins to automate lending, allowing retail investors to lend from a phone using a debit or credit card and to earn interest by staking balances, which were then lent to merchants in the network.

Founding story

The company was founded in 2022 and has been reported as co-founded by Adebayo Alonge, Dr. Win Min Oo and Sabrina Zhou, with Sam Alonge identified in press coverage as CEO and founder. Its stated mission at launch was to enable economic well-being for everyday people by connecting savers in North America, whose savings were being eroded by inflation, with small business owners in emerging economies unable to access affordable capital.

Business model

Storspay charges a single all-in transaction fee of 2% on every corridor in both payout and receive directions, plus flat fees on transfers into US, Canadian, UK and European bank accounts (0.75%, minimum $5.00), while quoting mid-market exchange rates. It states it does not hold customer funds.

Transaction-based fees: 2% all-in per cross-border payment, with additional flat fees on USD, GBP and EUR bank transfers.

Traction

The website lists 26 corridors, around 30 currencies and a roster of businesses paying across borders including RxAll, Inc., CCACI (Côte d'Ivoire–Canada Chamber), Elroy Design, CodersAdda, StorsApp, Inc., wespare, Frontières Bay Energies, KD Enterprises, Lusoy Homes, Tumaini Homes and Reblong Enterprises. The product is offered via an early-access waitlist.

Latest developments

The company is marketing a two-way cross-border B2B payments product across 26 corridors and roughly 30 currencies via an early-access waitlist, with segment-specific offerings for platforms, freelancers and API integrations.