Snaplii raises $15 million for capped AI-agent wallets
Toronto-based firm Snaplii raised $15 million for capped wallets an AI agent can spend, and the funding note still leaves the merchant of record unnamed.
Snaplii, the Toronto company building fintech infrastructure so an artificial intelligence (AI) agent can spend from a capped, pre-funded wallet, raised $15 million, FinSMEs reported on November 6, 2026. Having tracked agent checkout from the card-issuing side, I read the round as capital for a prepaid ceiling a merchant already knows how to redeem, rather than for a protocol that merchant must install. Pliant is opening licensed business-to-business card rails to outside agents under a European e-money license, while Snaplii's Agent-to-Merchant page puts the purchase on a gift card and on what the company calls the Prepaid Payment Network.
FinSMEs calls Snaplii a Toronto-based provider of that infrastructure and names Hat-Trick Capital among the backers. The company told FinSMEs the proceeds will accelerate technology development, scale financial infrastructure, and expand market reach, and the note prints the $15 million with the round stage and any valuation left off the page. The product tied to the money is a capped, pre-funded wallet that keeps primary credit card details with the user. TheSaaSNews, updated November 8, 2026, repeats the amount, the November 6 date, and Hat-Trick Capital, and cites FinSMEs as its source.
What the merchant is asked to accept
On the Agent-to-Merchant page, the user funds the balance and sets the agent's limits, methods, and scope, and the agent executes inside that boundary. Snaplii says it issues a one-time, transaction-scoped instrument, keeps real card credentials off the agent, and has the merchant accept the instrument as an ordinary gift card the store already redeems. The page calls that balance a hard cap, with each credential single-use, so the merchant change on the company's account is an order arriving on a path the till already runs.
FinSMEs and that Agent-to-Merchant page do not say who the merchant of record is. They describe what is supposed to arrive at checkout and leave the legal seller of the goods, and the party that owns a refund or a chargeback, unstated. The $15 million is assigned to technology, financial infrastructure, and market reach.
What the October wallet already set
The November round scales a wallet Snaplii had already described. On October 5, 2026, an ACCESS Newswire release from Snaplii Inc. presented Snaplii Cash as a separate, pre-funded wallet with a limit the user sets. The release's example of that limit is $50. Payment is drawn from the Snaplii Cash balance, and card and bank details stay with the user. The same release says a Model Context Protocol (MCP) compatible interface issues one-time, pre-funded credentials for each transaction, including for an agent such as Meta's Muse.
"You wouldn't hand a new assistant your credit card on day one. You'd give them a budget. That's what Snaplii Cash is for an AI agent, a budget, not a blank check," said Spencer Xu, founder and chief executive of Snaplii, in that October 5 release.
As company claims, the release says the wallet serves more than 350,000 users and processes more than US$100 million in annual transaction volume across more than 500 brands, in the United States and Canada.
What a bank still has to name
FinSMEs names Hat-Trick Capital, and Visa, Stripe, Mastercard, and any bank sit outside that item. Snaplii's May 28, 2026 write-up says the firm ran a live agent payment at Visa headquarters, with decision-makers from Coinbase, PayPal, BlackRock, and QED Investors in the room, and it lists Stripe, Visa, Google, and Mastercard as builders of AI payment infrastructure. That post is the company's account of a demonstration, and a comment from those networks on the $15 million stays outside the funding note.
Project SAGE asks banks to name an owner before an agent acts, and the Hong Kong discussion treats a payment that can settle as material because settlement can be irreversible. A cap on a Snaplii Cash balance bounds the draw from loaded funds, and a bank that distributed the wallet would still need that named owner and a record of the mandate. Casap's $56 million Series B for dispute agents funds the work after a cardholder opens a case, which a gift-card instrument can move off the primary card and onto whoever issued the prepaid value.
PhotonPay's $40 million Series C for card issuing is the nearer cheque on the issuing side, beside Pliant's Series C, reported on the fintech desk as an $80 million raise for a license that firm already holds. If the $15 million goes into the prepaid issuance and the agent keys already on Snaplii's pages, merchants should see more agent orders as gift-card value, and a bank still has to judge refunds, reconciliation, and a named owner, the merchant-of-record question the November note left open.
This report is for general information only and does not constitute financial, investment, legal or tax advice.
Reporting by Rick Steves. Filed 9 November 2026, 10:23 GMT.
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011.
