Convera
Also a provider — view Convera’s profile →“Can the ex-Western Union B2B FX business reinvent itself as the embedded cross-border payments API for platforms, universities and enterprises?”
Founded2021
HQSeattle, Washington, United States
IndustryInfrastructure / FX
The story
Convera is the spin-out of Western Union Business Solutions, acquired from Western Union in 2021-2022 by Baupost, Goldfinch and other investors. It inherited a large B2B cross-border payments business (140+ currencies, 200+ countries, 60+ banking partners) and has since repositioned as an embedded FX and payments infrastructure provider, offering an SDK/API layer (GlobalPay for Students, Embedded Payment Solution) rather than only its legacy direct-corporate FX service. A parallel infrastructure pivot moved core systems from Western Union data centers to AWS.
Last 12 months
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Product timeline
2021
Convera formed to acquire Western Union Business Solutions (WUBS) from Western Union.· pivot
2022
Convera launches as an independent B2B cross-border payments and FX platform following the WUBS carve-out close.· pivot
2023
Data center migration off Western Union infrastructure to AWS Cloud as a cloud-first strategy.· acquisition
2025
Publishes embedded finance / embedded FX API product and Embedded Payment Solution SDK for platform partners.· banking
Acquisitions
The stack
3 layers disclosed in Convera’s embedded-finance stack
Payments / PSP
Convera Embedded Payment Solution (self-operated)Convera GlobalPay for Students (self-operated)
KYC
in the full report
FX & payouts
in the full report
Accounting gap: none
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.