UPAY

What UPAY does

UPAY Inc. is a US-incorporated fintech, founded in 2015 and headquartered in Dallas, Texas, that develops loan management software and payment processing solutions for financial institutions. Its primary operating market is South Africa, where it has built a presence through three subsidiaries and one operational arm: Huntpal LLC (a wholly owned Florida-domiciled subsidiary with South African operations, acquired June 2024), AML GO (Pty) Ltd (majority-owned AML compliance software provider, acquired mid-2024), and ACPAS (a wholly owned South African credit services subsidiary engaged in microfinance industry governance). UPAY distributes its software through direct enterprise sales to financial institutions, generating revenue from SaaS subscriptions on its loan management platform and AML compliance portal, plus transaction-fee-based revenue from a B2B lending solution deployed in South Africa.

The company's product surface combines loan management software (its core offering), an AML compliance web portal launched in April 2025 that onboarded 30+ financial institution clients within two weeks, and a newly added stablecoin payment infrastructure layer introduced via a December 2025 partnership with StraitsX that integrates stablecoin settlement into UPAY's payment ecosystem. UPAY announced plans to expand into the U.S. consumer lending market, signaling a planned geographic and customer-segment pivot beyond its current B2B financial-institution base in South Africa.

UPAY's go-to-market centers on direct enterprise field sales to financial institutions, supplemented by industry association positioning (sponsorship of MFSA's Annual General Meeting and Legacy Partner status in the launch of CASA). The company has 17.6 million shares outstanding as of June 2026 and reported minimal disclosed funding (approximately $158,000 cumulatively across 2015 and 2019). In July 2025, former CEO Bekhzod Botirov was arrested in Uzbekistan on charges tied to illegal online gambling, connected to the Humans ecosystem and ongoing ICSID arbitration, representing a material leadership and reputational event. Shyamol Das is identified as CEO in the available leadership data.

Name

UPAY

Legal name

UPAY Inc.

Website

https://upaytechnology.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

UPAY Inc. is a US-incorporated fintech developing loan management software, AML compliance tools, and stablecoin payment infrastructure, primarily serving financial institutions in South Africa with planned expansion into the U.S. consumer lending market.

Ownership category

akta.pro rank

Product category

Loan Management & Compliance Software

NAICS

Activities Related to Credit Intermediation (5223), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Prepackaged Software (7372), Finance Services (6199)

akta.pro primary industry

B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC)

akta.pro secondary industries

Crypto Payment Gateways & Checkout APIs (FSADAIAA), A2A Cross-Border & FX via Open Banking (FSAMAFAK)

Keywords

• Loan management software
• AML compliance solutions
• Stablecoin payment infrastructure
• B2B lending platform
• Regulatory compliance software

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Subscriptions - Loan Management: SaaS-based loan management software sold to financial institutions on subscription basis
2. AML Compliance Software: Regulatory compliance software and portal services for financial institutions
3. B2B Lending Solutions: B2B lending solutions deployed in South Africa generating transaction/intermediation revenue

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

UPAY develops an all-inclusive, fully automated loan management system and payment processing solution sold to financial institutions on a SaaS basis. Through its majority-owned subsidiary AML GO (Pty) Ltd, UPAY provides a web-based AML compliance portal, and it has partnered with StraitsX to develop stablecoin payment infrastructure integrated into its payment ecosystem. The company deploys B2B lending solutions in South Africa and is planning expansion into the U.S. consumer lending market.

Product overview

UPAY is a fintech company operating primarily in South Africa with expansion plans into the U.S. consumer lending market. The company offers a portfolio of financial technology products including loan management software, regulatory compliance solutions, and outdoor recreation software. Core offerings include UPAY's own loan management and B2B lending platform deployed in South Africa, supplemented by acquired products: Huntpal LLC (outdoor recreation software acquired in 2024) and AML GO (AML compliance software, controlling interest acquired in 2024). The company also operates through its South African subsidiary ACPAS, which focuses on credit services and innovation in credit practices.

Differentiator

Problem solved

Functional benefit

Products and services

• UPAY Loan Management Software

Quantifiable outcome

• Onboarded 30+ financial institution clients within two weeks in April 2025

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• StraitsXcoreTechnology or Integration · 2 December 2025UPAY partnered with StraitsX to develop financial infrastructure for stablecoin payments. The collaboration integrates StraitsX's settlement layer into UPAY's payment ecosystem, enabling stablecoin usage for daily transactions globally with reduced cross-border transaction costs and friction.
• MicroFinance South Africa (MFSA)minorStrategic or Co-development Partner · 17 October 2025UPAY's South African subsidiary ACPAS sponsors the MFSA Annual General Meeting and Conference and participates as a Legacy Partner in the launch of CASA (Credit Association of South Africa).
• Huntpal LLCcoreTechnology or Integration · 5 June 2024UPAY acquired full ownership of Huntpal LLC, making it a wholly owned subsidiary. Huntpal, based in the USA with operations in South Africa, serves as a strategic operational arm. The transaction involved issuing UPAY shares to Huntpal shareholders with lock-up restrictions for two years.
• AML GO (Pty) LtdcoreTechnology or Integration · 1 June 2024UPAY acquired a controlling interest in AML GO (Pty) Ltd in mid-2024, strengthening its regulatory compliance software offerings. AML GO subsequently launched a web-based AML compliance portal and onboarded over 30 financial institution clients within two weeks.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• nCino: nCino provides cloud-based loan origination and banking software to financial institutions globally. It is a direct peer to UPAY's loan management platform, serving similar FI customers with SaaS-based credit workflow tooling.
• Temenos: Temenos offers core banking and loan management software to banks and financial institutions worldwide. It competes directly with UPAY in the loan management and banking workflow software category, especially for emerging-market FIs.
• ComplyAdvantage: ComplyAdvantage offers AI-driven AML and financial crime compliance software to banks and fintechs. It directly competes with UPAY's AML GO compliance portal in the same anti-money laundering software category.

Broad incumbents

• Finastra: Finastra is a large financial services software provider offering loan origination, payments, and banking solutions. It is a broad incumbent that overlaps with UPAY across loan management and payment processing for FIs.
• Jack Henry & Associates: Jack Henry provides core banking, lending, and compliance technology to US community banks and credit unions. It is a broad incumbent whose lending and compliance offerings overlap with UPAY's loan management and AML portfolio.
• NICE Actimize: NICE Actimize is an established provider of AML, fraud, and compliance solutions for large financial institutions. It is a broad incumbent competing with UPAY's AML GO portal in the same financial-crime compliance category.

Emerging players

• Blend: Blend provides consumer lending infrastructure and digital banking workflows to financial institutions. It is an emerging player targeting similar FI customers with modern loan origination technology, overlapping with UPAY's loan management offering.
• Fireblocks: Fireblocks provides infrastructure for digital asset and stablecoin payments, custody, and settlement. It is an emerging player in the same stablecoin payment infrastructure space that UPAY is entering through its StraitsX partnership.
• Circle: Circle is the issuer of USDC stablecoin and operates payment and treasury infrastructure for businesses using stablecoins. It is comparable to UPAY's stablecoin payment direction via the StraitsX partnership and competes for the same cross-border stablecoin settlement use cases.

Regional players

• Onafriq: Onafriq (formerly MFS Africa) operates a pan-African payments network connecting mobile wallets, banks, and merchants across the continent. It is a regional peer comparable to UPAY's South African fintech operations and cross-border payment ambitions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/upaytechnology

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UPAY