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