The cross-border payments infrastructure platform Tazapay, based in Singapore, announced on Tuesday that its Series B funding round had closed successfully. Peak XV Partners, Ripple (US), Circle Ventures, Norinchukin Capital (Japan), and GMO VenturePartners (Japan) were among the investors.
According to a statement from Tazapay, the round was led by current investor Peak XV Partners and included two additional current investors, January Capital and ARC180.
With the new funding, the company—which already holds licenses in Singapore, Canada, and the EU—will expedite its licensing roadmap in strategic international markets.
Applications are being accepted for licenses in the US, Hong Kong, Australia, the UAE, and Singapore for a Digital Payment Token (DPT) license.
In the meantime, Tazapay’s entry into Japan will be accelerated by the investments made by Norinchukin Capital and GMO VenturePartners.
By utilizing these collaborations, Tazapay will provide its global clientele with local Japanese payment options and set up a specialized sales force in Japan to assist Japanese businesses in expanding globally.
In order to give international businesses a payment experience that is ready for the future, the company also intends to make additional investments in cutting-edge payment rails like real-time payments (RTP), ACH, and stable coins.
“We’re entering the next chapter of our journey — one where modern payment technologies, regulatory compliance, and partnerships with global leaders will enable the future of cross-border commerce,” said Rahul Shinghal, Co-founder and Chief Executive Officer of Tazapay.
“With this round, we are not just capitalizing the business; we are investing in our long-term vision to become the builder of a global payment collection and payout infrastructure built on modern rails,
“One of the key use cases this infrastructure serves is being the Fiat bridge for stable coins in emerging markets,” he added.
According to the statement, Tazapay’s role in bridging traditional finance with the rapidly changing world of digital currencies is strengthened by the investments from Ripple and Circle, two of the leading companies in the world of stable, blockchain-based coin-powered payment infrastructure.
It should be mentioned that Tazapay currently boasts one of the largest networks for collecting Fiat in emerging markets, and these collaborations enable it to expand the network even further.
“The future of global payments depends on the seamless convergence of traditional and digital finance,
“Tazapay is a clear leader in building these essential, compliant last-mile connections, especially in emerging markets,” said Eric Jeck, Senior Vice President Corporate and Business Development at Ripple.
“We’re proud to invest in Tazapay in this next phase of their growth, and together provide best-in-class payment solutions in key regions such as Asia Pacific (APAC),” he added.
