Argentine FinTech company, Tapi, has successfully raised $22m in a Series A funding round.
The investment was spearheaded by prominent venture capital firms Kaszek and Andreessen Horowitz, according to a report from Bloomberg.
Tapi, primarily a payment processor for major Latin American platforms like Mercado Pago and cryptocurrency exchange Lemon, is set to process approximately $400m in payments this year. This represents a fourfold increase from the company’s activity in 2023. Specializing in handling recurring transactions such as monthly bills, Tapi is becoming a pivotal player in the region’s financial landscape.
The newly acquired funds are earmarked for bolstering Tapi’s technological infrastructure and expanding its operational footprint in Mexico. Tomas Mindlin, co-founder and CEO, emphasized the strategic importance of Mexico, projecting it as Tapi’s fastest-growing market in the upcoming years. He predicts that by next year, 80% of Mexico’s banked population will be engaged with Tapi’s services.
This funding round follows an initial $9m raised in 2022 during a seed round, also led by Andreessen Horowitz.
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