|
PRNewswire
Singapore, August 27: Tazapay, a leading global cross-border payments infrastructure platform, today announced the successful close of its Series B funding round with investment from Peak XV Partners, Ripple (US), Circle Ventures, Norinchukin Capital (Japan), and GMO VenturePartners (Japan). Existing investor Peak XV Partners led the round and 2 other existing investors January Capital and ARC180 joined the round. Tazapay provides seamless local collection and payout capabilities in over 70 markets, supporting a growing base of global enterprises and platforms across industries. Tazapay processes more than $10 billion in annualized payment volume, has reached operational breakeven, and is growing at 300% year-over-year. Tazapay has a differentiated and cutting-edge product offering that our clients value for its breadth and depth. The platform delivers comprehensive coverage across alternative payment methods, cards, virtual bank accounts ,payouts and stablecoins. Combined with institutional-grade security and compliance across multiple jurisdictions, and a robust fiat bridge for stablecoin settlements in emerging markets, Tazapay offers an unparalleled solution for global businesses. The company is already licensed in Singapore, Canada, and the EU, and will use the new funding to accelerate its licensing roadmap across key global markets. Applications are underway for licenses in the UAE, US, Hong Kong, Australia, and for a Digital Payment Token (DPT) license in Singapore. "We're entering the next chapter of our journey -- one where modern payment technologies, regulatory compliance, and partnerships with global leaders will enable the future of cross-border commerce," said Rahul Shinghal, Co-founder and CEO of Tazapay. "With this round, we are not just capitalizing the business; we are investing in our long-term vision to become the builder of a global payment collection and payout infrastructure built on modern rails. One of the key use cases this infrastructure serves is being the Fiat bridge for stablecoins in emerging markets." The investments from Ripple and Circle, two of the world's most prominent players in blockchain-based and stablecoin-powered payments infrastructure, reinforce Tazapay's role in connecting traditional finance with the evolving world of digital currencies. Tazapay today has one of the widest Fiat collections network in emerging markets and these partnerships help it supercharge the network. The future of global payments depends on the seamless convergence of traditional and digital finance. Tazapay is a clear leader in building these essential, compliant last-mile connections, especially in emerging markets," said Eric Jeck, SVP Corporate and Business Development at Ripple. "We're proud to invest in Tazapay in this next phase of their growth, and together provide best-in-class payment solutions in key regions such as APAC. The investments from GMO VenturePartners and Norinchukin Capital will accelerate Tazapay's expansion into Japan. Leveraging these partnerships, Tazapay will enable local Japanese payment methods for its global customer base and establish a dedicated sales team in Japan to help Japanese enterprises scale internationally. Tazapay's infrastructure supports high-trust, regulated cross-border payment solutions for B2B marketplaces, platforms, and fintechs. The company plans to further invest in modern payment rails such as real-time payments (RTP), ACH, and stablecoins, delivering a future-ready payment experience for global businesses. With strong institutional backing, deep fintech expertise, and a clear regulatory path, Tazapay is set to lead the transformation of cross-border payments -- bridging the gap between traditional banking and the next era of compliant, borderless digital finance. Photo - https://mma.prnewswire.com/media/2758684/Tazapay.jpg Logo - https://mma.prnewswire.com/media/2737510/Tazapay_Logo.jpg (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
|
