Total amount raised
$21.9 Millions
Latest funding date
Location
Tazapay has successfully raised significant funding through multiple rounds, with its latest being a Series A round. The platform offers a comprehensive suite of services, including global payment collections, business accounts, and payouts, tailored for small and medium-sized businesses.
Keep reading to explore the intricacies of Tazapay's fundraising journey and the investors backing this innovative platform.
What Is Tazapay?
Tazapay, founded in April 2020, is a cloud-based trade management platform headquartered in Singapore. The company specializes in financial technology, providing essential tools and services to facilitate cross-border trade and payments for small and medium-sized businesses.
Founded by Abhishek Sharma and Rahul Shinghal, Tazapay employs between 101-250 people. The platform offers a comprehensive suite of services, including global payment collections, business accounts, and payouts, designed to remove trust barriers in international trade.
How Much Funding Has Tazapay Raised?
- Seed Round
- Amount Raised: $3.2M
- Date: December 2020
- Lead Investors: Saison Capital, Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the platform, providing essential tools for cross-border trade and payments.
- Seed Round
- Amount Raised: $1.8M
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Series A
- Amount Raised: $16.9M
- Date: February 2023
- Lead Investors: Sequoia South East Asia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business across Asia, expand into the Middle East and Europe, and enhance core capabilities.
Total Amount Raised: $21.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia South East Asia
- Details: Sequoia South East Asia is a leading venture capital firm that led Tazapay's Series A funding round. The firm is known for its strategic investments in high-growth companies across various sectors.
- Investment Focus Areas: Fintech, healthcare, consumer internet, enterprise software, and logistics.
- Notable Investments: Tokopedia, Gojek, Carousell.
- Saison Capital
- Details: Saison Capital is a venture capital firm that participated in Tazapay's Series A funding round. The firm focuses on early-stage investments and is a subsidiary of Credit Saison, a leading Japanese financial services company.
- Investment Focus Areas: Fintech, SaaS, e-commerce, and logistics.
- Notable Investments: Grab, ShopBack, Funding Societies.
- Surge
- Details: Surge is an accelerator program by Sequoia Capital India that provides funding and mentorship to early-stage startups. Surge was an early investor in Tazapay.
- Investment Focus Areas: Technology, consumer internet, and enterprise software.
- Notable Investments: Khatabook, Doubtnut, Classplus.
- EscapeVelocity
- Details: EscapeVelocity is a venture capital firm that participated in Tazapay's Series A funding round. The firm focuses on investing in innovative startups with high growth potential.
- Investment Focus Areas: Fintech, SaaS, and consumer technology.
- Notable Investments: Not publicly disclosed.
- PayPal Alumni Fund
- Details: PayPal Alumni Fund is a venture capital fund that invests in startups founded by former PayPal employees. The fund participated in Tazapay's Series A funding round.
- Investment Focus Areas: Fintech, e-commerce, and enterprise software.
- Notable Investments: Not publicly disclosed.
What's Next for Tazapay?
As Tazapay looks to the future, the opportunities for growth are immense. The company plans to scale its business across Asia, the Middle East, and Europe, tapping into the burgeoning demand for seamless cross-border payments. With a global network already covering over 170 markets, Tazapay aims to enhance its technological infrastructure and expand its real-time local collection channels to over 100 markets by the end of the year. This expansion will allow Tazapay to serve a diverse range of verticals, including cross-border e-commerce, EdTech, SaaS, and travel.
Given the successful Series A funding round, Tazapay is well-positioned for future fundraising opportunities. The company may attract further investments from major financial institutions and technology companies looking to enter or expand in the cross-border payment space. This additional capital will support Tazapay's ambitious plans to apply for payment licenses in major markets and enhance its core capabilities.
However, Tazapay will face several challenges along the way. Navigating regulatory requirements in different countries and ensuring compliance with international financial standards will be critical. Additionally, the company must contend with competition from established players in the cross-border payment industry. Ensuring the security and reliability of its payment solutions will be paramount as Tazapay continues to scale and expand its market presence.
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