Argentinian fintech start-up Tapi bags $22m Series A led by Kaszek
Argentinian fintech start-up Tapi has landed $22 million in a Series A funding round led by Brazilian venture capital firm Kaszek.
Tapi secures $22 million Series A funding
The funding round also saw participation from Californian VC Andreessen Horowitz, which also led Tapi’s $9 million seed round in 2022.
Founded in 2022, Tapi provides payment processing infrastructure that enables fintechs and consumer platforms throughout Latin America “to offer increasingly efficient, secure and scalable payment services”.
Its tech can be integrated to process recurring payments and gift card payments as well as automate billing for services via a single API connection.
The company currently serves the likes of Mercado Pago and cryptocurrency exchange Lemon and operates across Argentina, Chile, Colombia, Mexico, and Peru.
In an interview with Bloomberg, Tapi co-founder and CEO Tomas Mindlin states that the firm expects to process around $400 million in payments this year, adding that its latest funding has been earmarked to help fuel the company’s expansion in Mexico.
“We’re going to be working with the fintechs that are going to grow the most, continue to do the most financial inclusion and transform cash to digital payments, so Mexico is very important for us,” Mindlin says.
“I’d say in a year from now we’ll have 80% of the banked population in Mexico working with our infrastructure,” he predicts.
Latin America is emerging as a hotbed for fintech activity in 2024. In the payments sector, Brazilian paytech VMtecnologia was acquired by Israeli fintech Nayax in May in a deal potentially worth around $27 million.
