Tazapay nabs fresh funding from Series B round

The cross-border payments firm will also expand to Japan.

Singapore-based cross-border payments firm Tazapay announced the close of its Series B funding round with investment from Peak XV Partners, Ripple (US), Circle Ventures, Norinchukin Capital (Japan), and GMO VenturePartners (Japan) for an undisclosed amount.

Existing investor Peak XV Partners led the round, and two other existing investors, January Capital and ARC180, joined the round.

According to the group, it will use the funds to accelerate its licensing roadmap across key global markets. Applications are underway for licenses in the UAE, US, Hong Kong, Australia, and for a Digital Payment Token (DPT) license in Singapore.

Tazapay also plans to expand its services to Japan.

Tazapay provides local collection and payout services in over 70 markets, processing more than $10b in annualised payment volume.

The company said it has reached operational breakeven and is growing at 300% year-on-year. Its platform supports alternative payment methods, cards, virtual bank accounts, payouts, and stablecoins, with compliance across multiple jurisdictions and a fiat bridge for stablecoin settlements in emerging markets.