Belmoney SA

What Belmoney SA does

Belmoney SA is a Belgium-headquartered, PSD2-licensed Payment Institution founded in 2013 by Bruno Pedras (CEO) and Antonio Costa (COO) and supervised by the National Bank of Belgium under PSD2 (Directive (EU) 2015/2366) with full EEA passporting rights. The company operates an API-first, white-label embedded finance platform that gives non-EEA fintechs, mobile wallets, banks, MTOs, payout networks and neobanks access to PSD2-compliant remittance and cross-border payment infrastructure across all 30 EEA countries without those partners having to obtain their own regulatory licenses. Headquartered at Avenue Louise 54, 1050 Ixelles (Brussels), Belgium, under registered number 0540.745.997 (RPM Brussels), the firm employs a founder-led executive team that also includes CFO Arthur Figueiró, VP of Operations Pablo Fuertes, and Executive Director Szandra Csadi.

The platform is built around two core product lines and a forthcoming third: Remittance as a Service (RaaS), which provides PSD2-compliant collection across the 30 EEA countries; Payment Aggregator HUB, a global payout infrastructure providing direct local rails (bank accounts, mobile wallets, cash pickup, card) in 130+ countries via a single API; and Banking as a Service (BaaS), a forthcoming product offering FX conversion, virtual IBANs (3,200+ issued to date across 12 currencies), and multi-currency treasury support for up to 35 currencies. The technology stack features real-time FX with transparent pre-commitment pricing, ISO 20022-compliant payment messaging, smart-retry and dynamic-routing payment orchestration, PCI DSS Level 1 certified card processing, and an automated AML/KYC/KYT/sanctions screening layer. API authentication is APIKey + APISecret with HMAC-SHA512 signatures, supports Java SDKs, and exposes endpoints for transaction pre-registration, confirmation, ID document upload, liveness video upload, status checks, rate/fee queries, and payout lifecycle management. Identity-verification partners include Veriff, Onfido and ShuftiPro; payment processors include PayCross and AIB Merchant Services; and card rails include Mastercard.

Belmoney generates revenue exclusively on a B2B, transaction-fee basis (no consumer-facing product and no public pricing). Partners pre-fund treasury balances held by Belmoney, and the company earns per-transaction fees plus FX spreads disclosed before transaction commitment. Go-to-market is enterprise sales-led (direct sales supported by a structured referral program that pays long-term volume commissions and content marketing via the 'Belmoney Intelligence' newsletter). Primary named customers include RwandaCash (partnering to scale to €5M+ annual TPV in year one across 50,000+ Rwandans in the EU) and DigiPay (launching the DigiTransfer app in France and Belgium for transfers to the Republic of Congo and DRC). No public revenue, ARR, or funding data was disclosed in the source material.

Name

Belmoney SA

Legal name

Belmoney SA

Website

https://bel.money

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Belmoney SA is a Belgium-based, PSD2-licensed Payment Institution providing white-label embedded remittance and cross-border payment infrastructure via API to B2B partners — non-EEA fintechs, mobile wallets, banks, and MTOs — across 30 EEA countries and 130+ global payout markets.

Ownership category

akta.pro rank

Product category

Cross-Border Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Functions Related To Depository Banking, Nec (6099), Finance Services (6199)

akta.pro primary industry

Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH)

akta.pro secondary industry

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Embedded remittance services
• Cross-border payment infrastructure
• White-label payment API
• PSD2 payment institution
• Virtual IBAN issuance

Headquarters

HQ city

Ixelles

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Remittance as a Service (RaaS) licensing fees: Belmoney provides its PSD2-licensed infrastructure on a white-label basis to partners (mobile wallets, banks, MTOs, neobanks) who operate remittance services under their own brand. Revenue is generated through transaction fees, FX spreads, and possibly licensing/service fees for access to the RaaS platform. Partners pre-fund their balance in Belmoney's system for payment operations.
2. Payment Aggregator HUB fees: Partners licensed to send remittances use Belmoney's payout infrastructure to access 130+ countries. The pre-funding model requires partners to pre-fund their treasury balance, with fees applied per transaction routed through the HUB network.
3. Banking as a Service (BaaS) — Coming Soon: BaaS product under development per website roadmap, targeting importers, exporters, and financial institutions with virtual IBAN issuance, FX conversion, and cross-border payment infrastructure. Revenue expected from transaction fees, FX spreads, and account management fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Belmoney SA is a Belgian PSD2-licensed Payment Institution that provides embedded Remittance as a Service (RaaS) and a global Payment Aggregator HUB via a single white-label API. It enables non-EEA fintechs, mobile wallets, banks, money transfer operators, neobanks, and payout networks to offer cross-border money transfers across 30 EEA countries and payouts to 130+ countries under their own brand, without obtaining their own license. The platform bundles automated KYC/AML compliance, real-time FX conversion, virtual IBANs, multi-currency treasury, and PCI DSS Level 1 payment processing.

Product overview

Belmoney SA operates as an embedded finance super platform providing regulatory, technological, and operational infrastructure for cross-border payments and remittances. The product portfolio consists of two core products: Remittance as a Service (RaaS) enabling white-label remittance across 30 EEA countries via PSD2-compliant API, and Payment Aggregator HUB providing global payouts to 130+ countries through a single integration. Additional modules include the forthcoming Banking as a Service (BaaS) for FX and virtual IBANs, Belmoney Corporate Card for white-label card solutions, and a Referral Program for partner acquisition. The architecture is API-first and modular, allowing partners to embed individual capabilities or the full suite under their own brand.

Differentiator

Problem solved

Functional benefit

Brands

• Remittance as a Service (RaaS): Embedded remittance infrastructure enabling companies to launch branded remittance solutions across 30 EEA countries without their own license.
• Payment Aggregator HUB
• Banking as a Service (BaaS)
• Happ
• DigiTransfer

Products and services

• Remittance as a Service (RaaS) White-label embedded remittance infrastructure enabling financial companies to launch branded remittance solutions across all 30 EEA countries without their own license. Provides PSD2-compliant payment processing, automated KYC/AML compliance, real-time FX conversion, and multi-rail payout (bank, wallet, cash pickup) through a single API integration.
• Payment Aggregator HUB Global payout infrastructure providing cross-border payments to over 130 countries through a single unified API. Designed for licensed remittance operators, banks, and financial institutions to expand their payout network without building individual country integrations, with pre-funding treasury and multi-rail routing.
• Banking as a Service (BaaS) Banking infrastructure for companies that move money across borders, providing FX services without markup, virtual IBANs for auto-matched payment attribution and reconciliation, and cross-border payments via local rails. Built for importers, exporters, and financial institutions.
• Belmoney Corporate Card

Quantifiable outcome

• Go-live in approximately 30 days (vs. 18-24 months for independent licensing)
• +3 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability9 records

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• DigiPaycoreStrategic or Co-development Partner · 1 June 2026Pan-African fintech DigiPay partnered with Belgian company Belmoney to launch the DigiTransfer mobile application in France and Belgium, enabling instant and secure money transfers directly from smartphones into mobile wallets and bank accounts across the Republic of Congo and the Democratic Republic of Congo. The partnership leverages Belmoney's European platform to serve the African diaspora with a focus on financial inclusion for populations who are largely unbanked but hold mobile accounts.
• RwandaCashcoreStrategic or Co-development Partner · 15 April 2026Belmoney partnered with RwandaCash, a Rwandan diaspora-focused financial services company, to transform it from a Belgian-licensed operator into a fully EU-enabled digital remittance platform. The partnership grants RwandaCash access to Belmoney's PSD2-compliant infrastructure, automated AML/KYC compliance, and real-time FX conversion, enabling pan-European operations across all EU member states without country-by-country licensing. RwandaCash targets €5 million+ in annual transaction volumes within its first year of expanded EU operations, serving 50,000+ Rwandans in the EU diaspora who currently face fees averaging 9.9% for $200 transfers.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• dLocal: dLocal is a NASDAQ-listed cross-border payment processor specializing in emerging markets, providing merchants and platforms with local payment rail access across 40+ countries. Directly comparable in B2B embedded payments infrastructure for emerging-market corridors.
• TerraPay: TerraPay operates a global payments infrastructure connecting bank accounts, mobile wallets, and cash pickup networks across emerging and developed markets. Directly comparable to Belmoney across mobile wallet enablement, MTO servicing, and emerging-market corridor focus.
• Thunes: Thunes is a global cross-border payments infrastructure network enabling mobile wallets, MTOs, and banks to send and receive payments in 130+ countries. Directly comparable to Belmoney's Payment Aggregator HUB in both target customers (mobile wallets, MTOs) and geographic model (direct rails, not correspondent banking).
• Modulr: Modulr is a UK-based embedded payments provider offering payment accounts, payment initiation, and BaaS infrastructure to fintechs and platforms. Comparable in API-first embedded payments targeting European platforms and fintech partners.
• Currencycloud: Currencycloud (acquired by Visa) provides embedded cross-border payment infrastructure via API for banks and fintechs, including FX, multi-currency wallets, and payment orchestration. Directly comparable as B2B embedded remittance/payments infrastructure provider.
• Banking Circle: Banking Circle delivers embedded banking, payments, and FX infrastructure to fintechs, banks, and corporates across Europe. Directly comparable as a European-headquartered B2B payments infrastructure competitor with PSD2-adjacent capability.
• Wise Platform: Wise Platform is the embedded/API distribution arm of Wise, enabling banks and businesses to offer cross-border payments using Wise's rails. Directly comparable as an API-first B2B remittance infrastructure offering targeting banks, fintechs, and enterprises.

Emerging players

• Onafriq: Onafriq (formerly MFS Africa) operates a pan-African mobile money and cross-border payments network connecting mobile wallets across Africa. Partially comparable on Africa-targeted mobile wallet and remittance flows; Belmoney partners with Onafriq for corridors per public customer logos.

Broad incumbents

• Remitly: Remitly is a NASDAQ-listed digital remittance platform serving diaspora corridors globally, with a B2B/Remitly-for-Business API offering. Overlapping remittance corridor focus (especially US-Africa and Europe-emerging markets), though Remitly is primarily consumer-facing.
• Visa Direct: Visa Direct is Visa's real-time push payments network enabling cross-border P2P, B2B, and disbursement flows for banks and fintechs. Comparable as embedded cross-border payment infrastructure layer targeting banks, fintechs, and program managers globally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Belmoney SA