Tazapay raises $36 million in Series B…backed by Ripple, Circle and others

Source

JOON HYOUNG LEE

Summary

Tazapay said it raised a total of $36 million in a Series B round.
The round was led by Circle Ventures, with major firms including Ripple and Coinbase Ventures participating, it said.
Tazapay said it plans to use the funds to expand the countries where it holds licenses and broaden its market expansion.

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Singapore-based cross-border payments infrastructure provider Tazapay has raised $36 million in a Series B round.

Tazapay said on the 26th (local time) that it raised a total of $36 million in the Series B. The round was led by Circle Ventures, the venture arm of Circle, the issuer of the dollar stablecoin USDC. Participants included Ripple, Coinbase Ventures, GMO VenturePartners and January Capital.

Tazapay said it plans to use the funding to expand the number of countries where it holds licenses. The company is known to have secured licenses in the United States, Australia, Canada and Singapore. It is currently working on license applications in Hong Kong and the European Union (EU).

Meanwhile, Tazapay provides payments infrastructure services to more than 1,000 companies across 30 countries.

Kanupriya Sharda, chief business officer (CBO) of Tazapay, said, “Businesses want faster, cheaper and safe remittances approved by regulators,” adding, “Tazapay’s infrastructure was built to meet exactly this demand.” She added that “this fundraising has provided momentum to expand market entry into the most important regions.”

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