Creator of the app for transfers to Africa and Asia collects $ 65 million in the series B round-crowdfunding
Creator of the app for transfers to Africa and Asia collects $ 65 million in the series B round-crowdfunding
Tap Send, the creator of the transfer app of the same name, announced that it collected $ 65 million in a financing round of the BER BER BER. The FinTech company wants to use the funds to build a cheaper and faster platform for cross-border money transfers.
transfers in overlooked countries
The FinTech startup behind the Tap Send transfer app recently announced that it raised $ 65 million in a financing round of series B. According to the startup, the funds collected are used to support transfers in the most overlooked countries in Africa and Asia
as indicated in a techcrunch Test report , Tap Send's recent capital increase-which exceeded the Series A-Veronerician increase of $ 13.4 million-was led by Spark Capital. Other participants in the round were Unbound, Reid Hoffman, Canaan Partners, Slow Ventures, Breyer Capital, Wamda Capital, Flourish Ventures and other unnamed investors.
market should be overcrowded
in comments after the financing round, TAP Send co-founder and CEO Paul Niehaus explained why his company focused on transfers, although this now seems to be a crowded market. Niehaus explained:
It's pretty easy to say that transfers are overcrowded, but you could have said that for social networks or video conferences before Tikk or Zoom came onto the market. Transfers are a deceptively simple product on the surface, under the hood an extremely complicated execution. There are 1,000 parts that you have to do correctly, and if you do this, you can offer users an added value through price, speed and reliability.
After this latest financing round, TAP Send has now raised more than $ 80 million, which corresponds to an assessment of $ 715 million according to the pitchbook data.
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