Tazapay, a Singapore-based fintech startup, announced today it has raised US$3.2 million in financing led by Sequoia Capital India’s Surge and Saison Capital.
As per a press release, the fresh funds will be used to develop, hire, and expand to new markets in Southeast Asia.
Tazapay is part of Surge’s fourth cohort, a bi-annual rapid scale-up program for startups in Southeast Asia and India.
Founded in April 2020, Tazapay is a cloud-based trade management platform for small and medium-sized businesses (SMBs) to conduct cross-border commerce safely.
The startup claims it provides better and safer accessibility to essential financial technology tools and services on its unified platform, helping to remove the current trust barriers SMBs face when conducting cross-border trade and payments.
These tools allow businesses to minimize uncertainties while expanding to international markets – including payment protection through escrow, company background checks, and counterparty risk assessment.