Fintech

**About Moreta** Payments made easy for international travelers. At Moreta, we simplify payments for international travelers, letting you pay for anything using just your phone. Say goodbye to the hassle of searching for the best cash exchange rates or ATMs on your next trip. With Moreta, paying local merchants is easy, and the best part? Transparent fees. We came up with Moreta while on our own backpacking adventures. Watching locals pay with a simple scan while we fumbled with cards and cash. So, we created a solution. By syncing with local payment networks, Moreta lets you pay like a local securely and digitally, without needing a bank account in every country. We’re starting in Asia, where QR code digital wallets are taking over and are now the top choice at checkout. As these wallets start to join forces for cross-border payments, Moreta will be the first to bridge the gap for international travelers from card-centric markets to seamlessly tap into these local networks. Moreta will target 67 million travelers arriving in the region each year, who together have $127 billion in everyday expenditure. **THE PROBLEM** When traveling abroad, do you find yourself asking if merchants accept card? How much cash do you need? Where can you get the best rate? Payments around the world are very fragmented and rely heavily on cash, or an alternative like QR code digital wallets. And for foreigners traveling, this typically means you need some combination of card and cash. In many countries, merchants may not accept card payments, and when they do, they often charge extra fees. Cash payments can also be costly due to high foreign exchange and ATM fees. **THE SOLUTION** Moreta simplifies payments for international travelers, letting you pay like a local using just your phone. Users download Moreta, upload documentation verifying their identity, connect their bank account to load funds, and pay, all within minutes. Moreta will launch first in the Southeast and East Asian markets. Users can scan existing merchant QR codes and pay like locals. **THE TEAM** Walid (CEO) and Sam (CTO) have been friends since high school. Walid was a payments consultant at Mastercard Advisors and experienced the payment pains of an international traveler when he backpacked through Southeast & Eastern Asia. Sam was previously the Head of Research & Development at Stems and developed the Instagram web search feature used by over 50 million people. **Company Details** Moreta Founded: 2024 Batch: Summer 2024 Team Size: 3 Status: Active Location: San Francisco