Real-time payments are becoming more common for individuals and businesses, but cross-border transactions still face challenges. Caliza aims to change that, starting in Latin America.
Established in 2021 by American entrepreneur Ezra Kebrab, now based in São Paulo, Brazil, Caliza offers an alternative to slow SWIFT transfers in the Americas.
Caliza’s API and payment system use crypto stablecoins like Circle’s USDC and real-time payment networks for instant transfers, providing international merchants with U.S. digital dollar accounts.
While the startup didn’t disclose its clients, they are banks and fintechs seeking better cross-border transaction support, as well as individuals for remittances and payroll.
Recently, Caliza raised $8.5 million in funding led by Initialized, marking the VC firm’s first investment focused on Latin America.
Kebrab’s experience at Visa revealed the need for faster transactions in Latin America, especially for companies like those nearshoring in Mexico. Caliza plans to expand to Mexico in the fall, emphasizing adherence to regulatory standards.
Most of Caliza’s ten-person team is currently in Brazil, set to double with the new funding and the startup’s upcoming local launch.
In Brazil, real-time transactions are already prevalent thanks to the Pix system, but cross-border transactions remain complex, unlike Europe’s SEPA network. Caliza aims to support incumbents and provide stability amid currency volatility in the region.
The name “Caliza,” meaning limestone in Spanish, signifies the company’s enduring presence in the payments landscape. With plans for expanding beyond Latin America, Africa could be a future target given Kebrab’s heritage.
Previous funding of $5.3 million in 2021 was followed by the recent round led by Initialized, indicating strong support from various investors and industry executives.
