Argentinian payments processor Tapi is targeting the Mexican market after securing $22 million in funding.
The Series A round was led by Kaszek and joined by Andreessen Horowitz, which led a 2022 seed round, according to Bloomberg.
Tapi processes payments for fintechs in five countries for big names such as Mercado Pago and cryptocurrency exchange Lemon. The company expects to process around $400 million this year, four times the amount it handled in 2023.
CEO Tomas Mindlin tells Bloomberg that he expects Mexico to be Tapi's fastest growing market in the near term.
Says Mindlin: “We’re going to be working with the fintechs that are going to grow the most, continue to do the most financial inclusion and transform cash to digital payments, so Mexico is very important for us.
“I’d say in a year from now we’ll have 80% of the banked population in Mexico working with our infrastructure.”