Tazapay

Tazapay, a Singapore-based fintech startup, enables companies to seamlessly make cross-border payments. We provide checkout, payment linking and escrow solutions to simplify international transactions and help reduce risk for online buyers and sellers.

Cross-border payments are complex, expensive and cumbersome. Credit cards are often expensive, wire transfers are too cumbersome and leave no recourse for buyers or sellers. Tazapay has built a global network of local payment collection methods in over 85 markets, exposed through a single API in addition to our card coverage in over 173 markets. This uses open banking, real-time payment networks and dynamic geo-location to match customers’ local payment providers, enabling fast and cost-effective cross-border payments at the cost of domestic payments. We bring international e-commerce and SaaS platforms to the forefront of the digital economy by unlocking cross-border payments.

Tazapay is a member of the Singapore Fintech Association. Our founders have over 50 years of experience from established, high-growth fintech and service companies around the world. Our team is a group of geeks who are passionate about solving real, complex problems.

Tazapay, a leading fintech company focused on cross-border payments, today announced that it has raised $16.9 million in its Series A funding round.

Sequoia Capital Southeast Asia led the round, with EscapeVelocity (escp.vc), PayPal Alumni Fund, and well-known angel investor Gokul Rajaram joining as new investors. Existing investors Foundamental, January Capital, RTP Global, and Saison Capital also participated in the round.

Tazapay plans to use the funds to further expand its presence in Asia and expand into other regions where the company has strong demand for its services, such as the Middle East and Europe. This includes applying for payment licenses in key markets, which will expand Tazapay's global payment network. The company will also strengthen its core capabilities and add more local payment methods to better serve growing verticals including cross-border e-commerce, education technology (EdTech), software as a service (SaaS), and travel.

With the advent of open banking and the maturation of real-time payment networks, such as Singapore’s PayNow service and India’s Unified Payments Interface (UPI), businesses and end consumers are increasingly expecting real-time payments and through payment methods they are familiar with. With Tazapay, businesses can now access the company’s global network of over 170 markets and 85 local payment collection coverage markets through a single API integration, enabling them to accept low-cost and secure payments from customers without having to create local entities everywhere. With this round of funding, the company plans to expand its real-time local collection channels to more than 100 by the end of this year.

Some of Tazapay’s global customers that have already benefited from this integration include IndiaMART, India’s leading online B2B marketplace, which connects over 7.4 million sellers and 165 million buyers on its platform; BrightCHAMPS, a leading global real-time learning platform with operations in over 30 countries; WTX, a used truck marketplace platform; Rezlive, a global travel platform, and Advantage Club, an employee engagement SaaS platform. Additionally, Tazapay has partnered with Standard Chartered Bank to provide innovative commerce-enabled payment solutions to the corporate market.