Infinia Raises $13.5M Series A: The dLocal Alum Building the Boring Bridge Stripe Actually Needed

Ianai Urwicz spent his early career inside dLocal, helping take the cross-border payments company from zero to $100 million in annual recurring revenue, on its way to a public listing on the Nasdaq. That job amounted to a masters-level education in one specific, unglamorous problem: moving money in and out of emerging markets is nothing like moving money between New York and London. Every country has its own instant payment rails, its own banking quirks, its own regulatory demands — and almost nothing connects cleanly to anything else.

When Urwicz set out to build his own company in 2023, alongside co-founder and CTO Alejandro Rettig — who brought 25 years of telecom and financial systems experience of his own — he picked a version of that same problem to solve, but from the opposite direction: not moving fiat across borders, but connecting fiat to the stablecoin rails increasingly used for the exact same purpose. The company they built, Infinia, lets businesses collect funds, swap currencies, settle in stablecoins, and pay out locally, all through a single API — with compliance, KYC, and banking relationships handled underneath.

The unglamorous part is precisely what makes it defensible. Plenty of companies talk about stablecoin infrastructure; few are willing to do the slow, jurisdiction-by-jurisdiction work of connecting to central-bank instant payment systems like Brazil's Pix or Mexico's SPEI, securing local licenses, and maintaining redundant banking partnerships country by country. Infinia started there — fiat-side first — before layering in the stablecoin bridge. It's slower to build and impossible to fake, which is exactly why the client roster now includes Stripe and OpenFX, two companies that could have built this internally and chose not to.

That combination of founder pedigree and infrastructure depth pulled in a $13.5 million Series A led by Bain Capital and Variant Fund — a pairing that's notable on its own. Bain represents traditional growth-equity validation; Variant is one of the more selective crypto-native funds investing today. Having both co-lead the same round is a sign the deal reads as a fintech infrastructure story and a crypto infrastructure story simultaneously, not one pretending to be the other. Y Combinator, which backed Infinia's earlier days, returned to participate again.

Bain Capital partner Parth Chopra put the thesis plainly: people underestimate how hard the "last mile" of stablecoin adoption really is — truly connecting on-chain value to local fiat accounts and payment networks around the world. Infinia's plan for the new capital is to keep doing exactly that unglamorous work at a larger scale: securing additional regulatory licenses and expanding beyond Latin America into Africa and Asia, other regions where inflation, capital controls, and FX inefficiency are pushing the same structural demand for a working bridge between stablecoins and the money people actually get paid in.

Deal covered in WarZ LatAm VC Monitor — Weekly 28.