The company’s seed round, announced Monday (June 29), will help it expand its platform and link sovereign space programs with the founders and companies developing new technologies to serve the space industry.
In an interview with Bloomberg News, Nebex founder Tejpaul Bhatia said the company aims to find revenue sources for space companies and foster more global cooperation in the industry.
“The cross-border friction when it comes to payments between countries and companies is really complex, and that’s what we’re solving for,” said Bhatia, former CEO of Axiom Space.
The Bloomberg report notes that international trade for the U.S. space industry has historically been tough to navigate, as many companies work closely with the American government and must comply with stringent national security rules.
Bhatia said Nebex would not change how companies and governments do business or deal with compliance issues. Rather, the startup hopes to facilitate deals large enough to make international business transactions profitable, despite roadblocks like tariffs, procurement rules and import and export restrictions.
The report adds that Nebex, which has yet to unveil its official platform, is aiming deals of at least $100 million and has formed a banking partnership with J.P. Morgan Chase.
“J.P. Morgan is proud to support Nebex as it moves into its next phase of growth,” Aneeka Sajid, market executive, innovation economy, applied tech at the banking giant, said in the release.
“The space economy is at an inflection point, and founders like Tejpaul and his team are building essential infrastructure that expands access and accelerates innovation across the ecosystem.”
In other cross-border payments news, PYMNTS wrote Monday about the challenge the 2026 World Cup presents on this front.
The global soccer tournament is projected to generate billions of dollars in ticket sales, travel bookings and merchandise purchases, but for merchants, it might also become the biggest real-world examination of fraud controls and cross-border payment infrastructure they will face this year.
As fans travel across three host countries and make transactions using dozens of payment methods and currencies, payment teams will be faced with a tough reality: legitimate customer behavior often looks a lot like fraud.
“The World Cup is the ultimate test for cross-border payments,” Justin Benson, CEO of Spreedly, said in an interview with PYMNTS. “It’s really going to highlight any cracks that you might have in your approval process.”
