tapi raises $22M in Series A, led by Kaszek and followed by Andreessen Horowitz, to continue building the largest payments network in Latin America
Two years after its creation, tapithe paytech that is integrating payment experiences through the largest network in Latin America, announced a $22 million Series A financing round to continue developing its technological platform for fintechs and banks in the region.
Led by Kaszek and followed by Andreessen Horowitz, the injection follows a $9 million seed round, also led by Andreessen Horowitz, in 2022, bringing the total raised by the company to more than $31 million to date.
Fintechs and banks in Latin America face the challenge of having outdated payment networks, which includes country-specific barriers (such as legal and tax barriers, among others) and makes it difficult to expand to other geographies of interest.
With a single API integration, tapi customers can access a single, comprehensive platform across the region, including bill payments, airtime top-ups, gift cards and cash transactions, while eliminating the need to navigate different local payment networks with different technology sets and operating methods.
Founded in 2022 by three Argentine entrepreneurs, Tomás Mindlin, Kevin Litvin and Nicolás Andriano, the paytech provides a state-of-the-art payments infrastructure for fintechs and banks in Latin America. Its solutions enable financial institutions to thrive in an increasingly competitive market, attracting and retaining customers with reliable and scalable payment services, which represent a significant improvement over the traditionally weak systems in the region.
Since its launch, tapi has quickly become the leading payment infrastructure provider in Argentina, Chile, Colombia, Mexico and Peru. This is reflected in its monthly results, which have grown significantly compared to last year: its TPV (Total Payment Volume), the metric that identifies the total number of transactions on a platform, increased by more than 800%, which increased profits by 2000%.
“Fintechs and banks are the backbone of economic growth, offering essential financial services that drive development and inclusion”highlights Tomás Mindlin, CEO and Co-Founder of tapi.
“tapi has built a regional payment network that solves a complex problem throughout Latin America, while offering a flawless solution that is quick and easy to implement for any company”highlights Nicolás Szekasy, Co-Founder and Managing Partner at Kaszek.
