Lava Payments, a new fintech startup, secured $5.8 million in a seed funding round. Lerer Hippeau led the investment. The company develops digital wallets designed for the emerging 'agent-native economy'.
Lava Payments aims to simplify transactions for AI agents. Its platform allows merchants to offer usage credits to customers. Consequently, users can employ these credits across various merchants and foundational AI models like GPT and Claude. Therefore, this operates on a pay-as-you-go basis, eliminating the need for repeated payments for core model access.
Innovating AI Agent Payments
The company addresses friction points where AI agents encounter payment blocks. Moreover, Lava provides a single wallet system, enabling seamless movement and transactions across the internet. This solution ensures fintech innovation supports autonomous agent operations.
Founder Mitchell Jones previously co-founded Lendtable, a Y Combinator-backed fintech startup. He identified the need for a unified payment system while experimenting with AI applications. Furthermore, other companies in this space include Metronome.
Harlem Capital, Streamlined Ventures, and Westbound also participated in the seed round. This fresh capital will support hiring, product development, and go-to-market strategies.

