Tazapay, a leading fintech company specialising in cross-border payments, announced that it has raised USD 16.9 million in its Series A funding round. Sequoia Capital Southeast Asia led the round, with EscapeVelocity.
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.
Several of Tazapay’s global customers are already reaping the benefits of this integration, including IndiaMART, India’s leading online B2B marketplace connecting more than 7.4 million sellers and 165 million buyers on its platform; BrightCHAMPS, a leading global live-learning platform with presence in over 30 countries; WTX, a used trucks marketplace platform; Rezlive, a global travel platform and Advantage Club, an employee engagement SaaS platform. In addition, Tazapay has also partnered with Standard Chartered to offer innovative commerce-enabling payment solutions for enterprise marketplaces.
Tazapay is a secure digital payment platform for businesses engaging in cross-border transactions. It provides a full-stack payment solution including cards and local payment methods globally with buyer and seller protection.