Argentine startup Tapi will use the investment to expand its operations
Argentine fintech startup Tapi has completed a Series A funding round, raising US$22 million. The lead investor was Kaszek from Brazil. The American venture capital firm Andreessen Horowitz also invested in the project. The latter participated in the startup’s financing in 2022, then led the round and invested US$9 million.
Tapi develops infrastructure for payment processing. It targets fintech companies and consumer platforms with its product. Its main region of operation is Latin America. The company’s technology enables:
– scale payment services for businesses;
– increase the efficiency and security of transactions;
– integrate recurring payments and gift card payments into a single system;
– automate the billing of services via APIs.
The company operates in Argentina, Mexico, Chile, Colombia and Peru. Tapi plans to expand to other Latin American countries in the future. Mercado Pago and cryptocurrency exchange Lemon are among the developer’s clients.
Latin American perspectives
Tapi co-founder Thomas Mindlin said the company plans to process US$400 million in payments by 2024. The investment received will expand operations in Mexico. This market has great potential for the company. According to Mindlin, around 80% of bank customers in Mexico will switch to the startup’s infrastructure by 2025.
The company is also looking to strengthen its cash-to-digital payments business. Tapi’s product improves the accessibility of financial transactions, making them more secure and convenient. It is relevant to many companies looking to improve operational efficiency.
According to analysts, Latin America is about to experience a boom in fintech activity. This year’s transactions in the local market are proof of this.
There has also been an increase in activity in the fintech sector in Argentina. Tapi is the leader, but competition between companies is intensifying. The successful completion of a funding round for a startup involving major investment funds and venture capital firms confirms the market’s potential. These investments are evidence of investor appetite for fintech development in Argentina and indicate the country’s economic stability and prospects.
The needs of local businesses and their customers are growing, driving the sector’s development. Tapi offers an innovative solution that will allow companies to strengthen their position and meet market demands. The funds raised will help the startup improve its product to make it as useful as possible for more customers.
