Nearpays Says it Has 150,000 Paying Users, Near Break-Even

In Short

Nearpays says it now has more than 150,000 paying users and $52,000 in monthly recurring revenue, and it is near break-even.

What Happened

It does this with its SoftPOS product, which turns a smartphone into a payment terminal.

LvlUp Ventures, an investor in Nearpays, shared new figures from the company’s October 2026 quarterly founder update. LvlUp Ventures said Nearpays has 150,000 plus paying users and $52,000 in monthly recurring revenue, which it described as about $650,000 annualized. It also said the company is near break-even and has a team of 30.

LvlUp Ventures said Nearpays won the AI for Good Award and later won the Money20/20 Middle East Pitch Competition. The post described both as global stages.

The investor also said Nearpays partnered with GTBank Rwanda and Fidelity Bank Ghana. It said both banks are using Nearpays’ SDK, which is a set of tools other companies can use to build on top of a product. Nearpays also partnered with Visa to scale SoftPOS across Africa, and expanded into Rwanda.

Nearpays founder Victor Daniyan said, “It has been an amazing experience with LvlUp Ventures, from gaining great exposure and building valuable partnerships to accessing educational opportunities that equip us with the knowledge and insights needed to scale.”

Why It Matters

Nearpays is positioning SoftPOS as a lower-cost way for merchants to accept card payments using a phone they already own. The company is also tying payments to features such as offline payments, AI-powered tax compliance, and a dashboard for larger businesses.

LvlUp Ventures said bank partnerships can change distribution for payments companies, by helping them reach merchants through institutions that already serve them.