Mumbai-based payments platform HiWiPay has raised US$2 million in seed funding, led by Unicorn India Ventures.

The funding will be used to expand HiWiPay’s trade remittance services and its operations in the education remittance sector.

Founded by Dewang Neralla, Geeta Chauhan, and Ujwal Tamminedi, HiWiPay aims to simplify cross-border transactions.

The platform features real-time tracking and competitive exchange rates, with a goal of achieving US$100 million in transaction volume over the next 12 to 18 months.

The company has partnered with over 500 education consultants and targets onboarding 5,000 international students within the next 18 months.

HiWiPay plans to launch the student app in UK to enhance its international presence and enter the SME trade remittance market, focusing on solutions for export and import businesses.