Argentinian fintech company Tapi has successfully closed a $27 million Series B funding round, a significant move to bolster its payments infrastructure across Latin America. The investment was led by prominent venture capital firm KASZEK, elevating the company's total capital raised to over $60 million since its 2022 founding. This new capital is earmarked to fuel Tapi's ambitious expansion plans, particularly in Mexico, which has become its primary market.
A Strategic Investment for Market Expansion
The funding round was spearheaded by KASZEK for the second consecutive time, with notable participation from Endeavor Catalyst and Latitud. This financial injection follows a period of remarkable growth, during which Tapi not only achieved profitability but also multiplied its revenue tenfold in less than 18 months. The investment validates the company's robust business model and provides the necessary resources to deepen its market penetration and enhance its service offerings.
Scaling a Robust Payments Network
At present, Tapi's sophisticated infrastructure processes an impressive volume of over 250 million transactions annually, which translates to more than $6 billion in payment volume. The company has successfully built the largest payments network in the region, connecting 20,000 service providers with an extensive grid of 70,000 physical locations. This vast and interconnected network facilitates seamless financial operations for millions of users and businesses across Latin America.
Mexico has unequivocally emerged as the cornerstone of Tapi's strategy, now accounting for over 90% of its total business activity. According to CEO and co-founder Tomás Mindlin, the country presents a unique opportunity due to its large market scale combined with persistent technological lags in key sectors. This environment creates a significant opening for financial inclusion initiatives, which Tapi is strategically positioned to address with its innovative solutions.
Future Growth and Technological Advancement
Fueled by the new capital, Tapi intends to enhance its core infrastructure and aggressively scale products like tapipay, a specialized solution for automating recurring collections. The company is targeting key sectors such as education, insurance, and finance, where an estimated 30,000 organizations still manage billing processes manually. This initiative aims to provide a simple, digital, and scalable solution for any business looking to streamline its payment cycles.
A pivotal element in Tapi's expansion was the strategic acquisition of Arcus assets from Mastercard, a move that significantly bolstered its technical and operational capabilities. The company’s vision is to function as a vital connector, enabling small and medium-sized enterprises to access the same sophisticated payment methods as large corporations. This is particularly crucial in a market where over 80% of transactions are still conducted in cash, bridging the digital divide.
This Series B funding round marks a pivotal moment for Tapi, powerfully reinforcing its mission to modernize Latin America's complex financial ecosystem. The investment will accelerate the company's ongoing efforts to simplify payments, automate collections, and enhance financial inclusion for businesses and consumers alike. As it strengthens its dominant position in Mexico, Tapi is poised to solidify its leadership and drive transformative change throughout the regional fintech landscape.