Cashless payment solution provider Dapio has secured $3.4m in funding to support the launch of its ‘Tap to Pay’ solution for Android users in the UK and Europe.
The funding was led by Flutterwave and saw participation from Techstars, PactVC and venture partner Daniel Gould.
Dapio – formerly known as Paymob – looks to make it easier for firms to accept cashless payments quickly and securely in-store, over the phone or on the move, anywhere, globally.
Many gig workers, microbusinesses and sole traders have been underserved by payment providers, with an estimated 3.2 million sole traders in the UK alone. Dapio’s payment solution is able to help support these traders with the Tap to Pay solution.
Dapio CEO and co-founder Kosta Du said, “In a world where we make more transactions than ever, it’s still far too difficult for small businesses to take payments from customers. It’s normal for consumers to make payments using their smartphones, so why not allow small businesses to take payments as well? ‘Tap to Pay’ has shown the world you don’t need complicated or expensive hardware to take frictionless payments.
“Our mission is to open this up to Android users across the UK and Europe. In doing so, we’re helping businesses grow faster, by taking the pain out of complex payment systems so founders can focus on what’s important: improving the customer experience and developing their business.”
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