Diameterpay

Diameter Pay provides an online money-transferring platform offering embedded payment solutions for banks and financial institutions. Formerly known as SendFriend, the company was founded in 2017 by David Lighton and originated at the Massachusetts Institute of Technology (MIT) with a mission to create a more inclusive global payments system through APIs and compliance automation. Lighton, the current CEO, has a background as a World Bank staff member and an expert in financial inclusion. His experience includes developing Haiti's National Financial Inclusion Strategy after the earthquake, with a focus on payments for the unbanked. He holds an MBA from MIT Sloan School of Management and an MA from Johns Hopkins University.

The company's core business revolves around its API that facilitates global and local payments across various systems and currencies, coupled with compliance automation for secure processing. It specifically targets institutions in emerging markets, such as those in Asia, Africa, and Latin America, that have been underserved by the traditional USD-dominated financial system. Diameter Pay's business model is B2B, providing payments-as-a-service to international banks. The platform features real-time reporting and transaction tracking for its clients. One of its key offerings includes on-chain settlement products alongside traditional payment channels.

Significant milestones include receiving a $2.9M R&D grant from the European Union, which helped pivot the company from a consumer-focused service to a B2B platform. The company rebranded from SendFriend to Diameter Pay in April 2023, a name chosen to reflect its goal of providing the shortest, most direct path for global money movement. In early 2023, the company acquired DigiPli, a regtech solutions provider, to enhance its compliance automation capabilities. Diameter Pay has received investments from entities including the European Union, E14 Fund, and Techstars.

Keywords: cross-border payments, embedded payments, financial institutions, payments-as-a-service, global payments, API, compliance automation, regtech, fintech, B2B payments, financial inclusion, money transfer, emerging markets, payment processing, David Lighton, SendFriend, MIT, on-chain settlement, correspondent banking solutions, USD services