# PayCaddy **Source:** https://geo.sig.ai/brands/paycaddy **Vertical:** Finance **Subcategory:** General **Tier:** Emerging **Website:** paycaddy.com **Last Updated:** 2026-04-14 ## Summary Panama City LatAm BaaS platform enabling digital wallets and Mastercard cards for fintechs and marketplaces; YC W22 $4.3M with Mastercard Most Agile Enabler 2023 award competing with Pomelo and Kushki for Latin American fintech infrastructure. ## Company Overview PayCaddy is a Panama City, Panama-based Banking as a Service (BaaS) platform — backed by Y Combinator (W22) with $4.3 million raised from AAF Management, Cathexis Ventures, Kube VC, Rebel Fund, and Soma Capital — providing Latin American fintech companies, marketplaces, and gig-economy platforms with API-based financial infrastructure including digital wallets, KYC-compliant onboarding, automated payment processing, and personalized Mastercard debit and prepaid cards, enabling non-financial companies to launch financial products without obtaining their own banking licenses or building payment infrastructure. PayCaddy received Mastercard's 2023 LAC Innovation Forum Excellence Award for Most Agile Enabler (Fintech Express Program), recognizing PayCaddy's speed of financial product deployment for its platform customers. PayCaddy's BaaS infrastructure addresses the regulatory and technical barriers that prevent Latin American startups from building financial products natively: obtaining payment institution licenses across different LatAm jurisdictions (Mexico CNBV, Colombia SFC, Peru SBS, Brazil BCB) requires 12-18+ months and significant capital commitment — PayCaddy's pre-licensed infrastructure provides the regulatory umbrella so platform customers can launch payment and card products in weeks. The Mastercard partnership (through the Mastercard Fintech Express program for BaaS enablers) provides the global payment rail and card issuance capability that makes PayCaddy-issued debit cards accepted at 90+ million Mastercard merchant locations worldwide — critical for gig workers who need cards to receive earnings and make purchases. The digital wallet infrastructure (CLABE account issuance in Mexico, local account numbers in other LatAm markets) enables real-time local payment receipt and disbursement. In 2025, PayCaddy competes in the Latin American Banking as a Service and fintech infrastructure market with Pomelo (LatAm BaaS, $40M raised), Kushki (LatAm payment processing, $86M raised), and Stitch (open banking API, $25M raised) for platform fintech infrastructure adoption. The LatAm fintech market has attracted significant investor attention — the combination of large unbanked populations, rapidly growing smartphone penetration, and nascent regulatory frameworks creates strong product-market fit for BaaS infrastructure that enables fast financial product launches. Mastercard's recognition (Most Agile Enabler award) validates PayCaddy's technical approach and strengthens the issuing partnership for card product expansion. The 2025 strategy focuses on expanding the gig economy employer payout vertical (delivery, ride-hailing, freelance platforms paying workers via PayCaddy-issued cards), building the revenue-based financing product for marketplace sellers using PayCaddy wallets, and growing into Brazil and Mexico (the two largest LatAm fintech markets). ## Frequently Asked Questions ### What is PayCaddy? PayCaddy is a Banking as a Service platform founded in 2021 that enables Latin American companies to launch financial products through an API-based platform. The company is based in Panama City, Panama and participated in Y Combinator's Winter 2022 batch. ### What products and services does PayCaddy offer? PayCaddy offers Banking as a Service solutions including digital wallet creation with KYC checks, automated online payments, and personalized debit and prepaid card issuance for customers or employees. The platform serves as an enabler of Mastercard debit and prepaid card programs throughout Latin America. ### Who are PayCaddy's target customers? PayCaddy serves fintech and crypto companies, startups, marketplaces, and gig-economy apps throughout Latin America. The platform is designed for companies that want to launch financial products and card programs for their customers or employees. ### When was PayCaddy founded? PayCaddy was founded in 2021 and participated in Y Combinator's Winter 2022 batch. ### Where is PayCaddy located? PayCaddy is based in Panama City, Panama and serves companies throughout Latin America. ### How much funding has PayCaddy raised? PayCaddy has raised $4.3M in total funding from 9 investors including AAF Management, Cathexis Ventures, Kube VC, Rebel Fund, and Soma Capital. ### What awards or recognition has PayCaddy received? PayCaddy received the Excellence Award in Fintech Express for Most Agile Enabler at the Mastercard 2023 LAC Innovation Forum. This award recognized their simplified banking as a service solutions across the Latin American region. ### What technology approach does PayCaddy use? PayCaddy operates as an API-based platform that enables companies to integrate banking services and launch financial products. The platform includes KYC checks for digital wallets and automated online payment processing. ### How can companies get started with PayCaddy? Based on the provided information, companies can integrate PayCaddy's API-based platform to launch financial products. Specific contact or onboarding details are not disclosed in the available information. ### What are PayCaddy's recent developments? Recent developments include raising $4.3M in funding from 9 investors and winning the Mastercard Excellence Award for Most Agile Enabler at the 2023 LAC Innovation Forum. The company continues to operate as a Mastercard program enabler for various financial services across Latin America. ## Tags api-first, b2b, fintech, latin-america, payment-processing, startup --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*