Tazapay, a leading fintech company specialising in cross-border payments, announced today that it has raised USD 16.9 million in its Series A funding round.
Sequoia Capital Southeast Asia led the round, with EscapeVelocity (escp.vc), PayPal Alumni Fund, as well as renowned angel investor Gokul Rajaram, joining as new investors. Existing investors Foundamental, January Capital, RTP Global and Saison Capital also participated in this round.
Tazapay plans to use the funds to further scale its business across Asia and expand in other regions where the company is receiving strong demand for its services, such as the Middle East and Europe. This includes the application of payment licenses in major markets that will broaden Tazapay’s payment network globally. The company will also be beefing up its core capabilities and adding more local payment methods to better serve the growing list of verticals that includes cross-border e-commerce, education technology (EdTech), Software-as-a-Service (SaaS), and travel.
With the advent of open banking and maturing of real-time payment networks…