Argentine payment processor Tapi is targeting the Mexican market after securing $22 million in funding.
The Series A round was led by Kaszek and supported by Andreessen Horowitz, who led a 2022 seeding round, according to Bloomberg.
Tapi processes payments for fintechs in five countries for big names like Mercado Pago and cryptocurrency exchange Lemon. The company expects to transact around $400 million this year, four times more than in 2023.
CEO Tomas Mindlin tells Bloomberg that he expects Mexico to be Tapi’s fastest-growing market in the near future.
Mindlin says: “We will work with the fintechs that are growing the most, continue to have the greatest financial inclusion and turn cash into digital payments, so Mexico is very important to us.”
“I would say in a year, 80% of the banking population in Mexico will be working with our infrastructure.”