PayTech TabaPay collects SoftBank funding

TabaPay, an instant money transfer platform, has received an investment from SoftBank Vision Fund 2.

With the capital, TabaPay will accelerate the development of its platform, enter new industry verticals and increase its global expansion efforts.

The FinTech company currently processes over one million transactions each day, with a 2018-2021 CAGR of 111% and 153% in dollar volume.

Tabapay offers technology for secure and instant payments. Its technology support fund disbursement, payment collection and direct account transfers.

It currently offers direct access to 15 banking partners, 14 networks and multiple geographies around the world.

SoftBank Investment Advisers managing partner Munish Varma said, “The internet has reduced frictions in the payments system, but consumer preferences have evolved and they now expect optionality and speed in their transactions.

“Tabapay has built a single, unified API that allows instant payments across any payment method, on any device, anywhere. The company has generated impressive traction working with leading fintech brands across sectors including challenger banks and lenders, and we believe they are well placed to become a leading payments infrastructure for the digital age. We are delighted to partner with Rodney Robinson and the team to support their mission to make instant payments simple & universal.”

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