With Tazapay, businesses can transact with their customers in a faster and more cost-effective way – without having to carry multiple payment platforms. And as the number of open banking and payment services continues to grow, Tazapay is designed to be the one stop shop for merchants across borders.
The Singapore-based fintech, which enables cross-border payments in more than 170 markets, announced today that it has raised $16.9 million in Series A funding led by Sequoia Capital Southeast Asia. This significant round of fundraising will help the company continue its rapid expansion and build out its innovative payment solutions for consumers and businesses around the world.
Rahul Shinghal has devoted his entire career to payments, and he knows first-hand how complex they can be. He has worked on products for both ecommerce and traditional banks, and has experience with regulations in multiple jurisdictions. As CEO of Tazapay, he is focused on making cross-border payments more convenient for users.
Tazapay aims to provide a comprehensive payment solution that covers over 170 countries, making it the perfect choice for businesses looking to target a wider market. With its local payments collection capabilities, Tazapay ensures quick and easy transactions between customers and suppliers in different jurisdictions.
In order to help its customers save time and money, the startup focuses on offering simple and efficient services. For example, it offers digital escrow services that allow buyers and sellers to complete transactions safely and easily online. In addition, it has partnerships with some of India’s most popular businesses, meaning that its customers have access to a wide range of products and services.
Tazapay has ambitions to become a global payments platform, and the funding will help it reach that goal. The startup plans to apply for payment licenses and add more local payment methods to serve its verticals, which include cross-border e-commerce, edtech, SaaS and travel. With the help of the funding, Tazapay is looking to expand into regions like the Middle East and Europe. It remains to be seen how well this strategy will pay off, but given Tazapay’s impressive track record so far, it seems likely that this venture will be successful in some way or another.
The funding from Sequoia Capital Southeast Asia will help the Tazapay team expand their messaging and payments app into new markets. They have experience in growing companies, and this investment will help them step up their game even more as they look to grow their business globally.
