What is tapi and what does it do in Mexico?

tapi is a fintech startup that aims to deepen its role in Mexico's payments ecosystem by allowing consumers and businesses to move money across various platforms and locations.

How much funding did tapi raise and what will it be used for?

tapi raised $27 million in a Series B round, which will be used primarily in Mexico for hiring staff, rolling out new payment and collection services, and potentially acquisitions.

What is tapi's significance in the Mexican market?

Mexico is tapi's most important market, accounting for about 90% of its 25 million monthly transactions, and is seen as a significant opportunity due to lagging financial technology development.

Home / Business and Economy / Fintech Tapi Secures $27M to Boost Mexico Payments

Fintech Tapi Secures $27M to Boost Mexico Payments

4 Feb

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Summary

Fintech startup tapi secured $27 million in Series B funding.
The funding will be used to expand operations primarily in Mexico.
Tapi processes approximately 25 million transactions monthly in Mexico.

Fintech Tapi Secures $27M to Boost Mexico Payments

Fintech firm tapi announced a $27 million Series B funding round, spearheaded by Kaszek Ventures, to enhance its presence in Mexico's payment landscape. This capital infusion, bringing tapi's total funding since 2022 to over $60 million, will primarily support expansion in Mexico through staff growth, new payment services, and possible acquisitions.

Mexico represents about 90% of tapi's monthly transactions, totaling roughly 25 million. The company collaborates with over 110 clients, including Nubank and Mercado Pago, and partners with major retailers like OXXO and Walmart for payment and cash deposit services.

Despite a broader slowdown in Latin American venture capital, tapi's growth is driven by Mexico's significant market opportunity and lagging fintech development. Tapi operates a three-sided network connecting retailers, businesses needing payment collection, and banks. Its core product, tapipay, streamlines payment collections via a single integration. The company also operates in Argentina, Chile, Colombia, and Peru.