ZipZap, Inc. is a fintech company that builds a global payment platform enabling cash-based transactions for online purchases, bill payments, eWallet top-ups, remittances, and digital currency purchases. It serves cash-preferred consumers, unbanked populations, and merchants worldwide by combining traditional payment rails, mobile tech, and digital solutions to offer faster, cheaper, and more compliant transfers than legacy providers.[1][2][3] With a network of over 700,000 payment centers, it targets remittances (e.g., Canada to India/Philippines) and promotes digital currencies, reporting $1M revenue in 2024 with 15 employees.[1]
Founded in 2010 or 2011, ZipZap was established in San Francisco, California, by Alan Safahi, who served as CEO and later launched ZED Network in 2018 as its creator to extend blockchain-based remittances over Stellar.[1][2][3] Key executives included CTO Brian Keller Heikkila, with experience in e-commerce payments and online gaming, and payments expert Simon (last name not specified), who designed early electronic bill-payment infrastructures.[3] The idea emerged to democratize global payments, starting with cash-to-digital bridges amid rising digital economy needs; early traction came via incubator/accelerator backing, raising $2.3M before entering a "dead" stage per records.[2]
ZipZap rides the cash-to-digital transition trend in remittances and fintech, addressing a $600B market plagued by high fees for unbanked/migrant workers amid blockchain and mobile payment booms.[2] Timing aligned with early 2010s crypto rise and global cash reliance (billions of cash-preferred users), favoring its hybrid model over pure digital players.[1][3] It influences the ecosystem by pioneering cash-digital hybrids, inspiring decentralized platforms like ZED/Stellar integrations, though its "dead" status post-funding suggests market consolidation pressures from competitors like Abra or PayNearMe.[1][2]
ZipZap's legacy as a cash-inclusive payments innovator positions any revival—potentially via ZED Network—amid rising blockchain remittances and CBDC trends. Expect evolution toward fully decentralized, low-fee global rails if reactivated, shaped by regulatory tailwinds for unbanked access and competition from neobanks. Its influence could grow by enabling MTOs in emerging corridors, tying back to simplifying money movement for the underserved.[2]
ZipZap has raised $1.0M in total across 1 funding round.
ZipZap's investors include 10X Capital, ACME Capital, Alsop Louie Partners, Animoca Brands, Adeyemi Ajao, Blockchain Capital, Blumberg Capital, Caffeinated Capital, CP Ventures, Draper Associates, Founders Fund, Foundry Group.
ZipZap has raised $1.0M across 1 funding round. Most recently, it raised $1.0M Seed in June 2014.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2014 | $1.0M Seed | 10X Capital, ACME Capital, Alsop Louie Partners, Animoca Brands, Adeyemi Ajao, Blockchain Capital, Blumberg Capital, Caffeinated Capital, CP Ventures, Draper Associates, Founders Fund, Foundry Group, Future Perfect Ventures, Imagination Capital, Khosla Ventures, LAUNCH, Lightspeed Venture Partners, Long Journey Ventures, Munich Re / HSB Ventures, Hans Tung, Oak HC/FT, Oyster Ventures, Path Ventures, Sound Ventures, Spark Capital, StillMark, Streamlined Ventures, Techstars, Tribe Capital, True Global Ventures, Two Sigma Ventures, Uncork Capital, Charlie Cheever, Chris Wang, Emmett Shear, Gokul Rajaram, Jared Kopf, Kevin Lin, Scott Banister, Shervin Pishevar, Steve Chen, Tikhon Bernstam, Tom Blomfield |
