Tazapay Secures Funding to Expand Cross-Border Payments

Key Takeaways

• Tazapay closed a Series B funding round to scale its global payment platform.
• The funding will support expansion of licensing and local payment capabilities.

Tazapay, a Singapore-based fintech company offering a unified platform for international transactions, recently closed its Series B funding round. Peak XV Partners led the round, with support from strategic investors including Norinchukin Capital and GMO VenturePartners.

Existing investors January Capital and ARC180 also participated, reinforcing Tazapay's position in cross-border payments infrastructure.

“We’re entering the next chapter of our journey,” said Tazapay CEO Rahul Shinghal. “Modern payment technologies, regulatory compliance, and partnerships with global leaders will enable the future of cross-border commerce.”

The platform processes over $10 billion in annual payment volume, growing at a 300% annual rate. The funding aims to connect traditional currencies with stablecoins through modernized payment systems.

Tazapay, licensed in Singapore, Canada, and the EU, plans to expand its licensing across key global markets, including pending applications in the UAE, US, Hong Kong, Australia, and for a Digital Payment Token license in Singapore.

Expansion Plans

GMO VenturePartners and Norinchukin Capital’s investments will support Tazapay’s expansion into Japan, offering local payment methods and a dedicated sales team to assist Japanese businesses scaling internationally.

In early 2023, Tazapay raised $16.9 million in a Series A investment led by Sequoia Capital Southeast Asia, aiming to expand across Asia, the Middle East, and Europe, while enhancing its core capabilities through expanded payment licenses.