The new investment will support TabaPay to rapidly respond to the tremendous client demand and allow for faster global expansion
TabaPay, the leading instant money movement platform, announced today an investment by the SoftBank Vision Fund 2, the world’s largest technology-focused investment fund. This new investment validates TabaPay’s vision and expansion of products and services to power future growth. Currently processing over 1 million transactions a day with a 2018-2021 CAGR of 111% and 153% in dollar volume, TabaPay expects this phase of hypergrowth to continue.
Tabapay offers the best reliability and value for businesses who move money in diverse industries such as early/earned wage access providers, banks, lenders, remittances, B2B payments and more. Leading Fintechs use the TabaPay platform to process payments and payouts, domestically and cross-border. The platform is optimized for speed, cost and risk to support most payment use-cases through direct connections to 15 banking partners and 14 networks (card schemes and RTP). This investment will further accelerate development of TabaPay’s leading Fintech payment platform, commitment to new industry verticals and allow for faster global expansion to meet client demand.
“SoftBank’s backing confirms the value TabaPay brings to Fintechs with instant money movement. We are honored to be in SoftBank’s impressive portfolio of companies. This investment will help TabaPay continue the delivery of great service to our clients while accelerating growth.” Said Rodney Robinson, Chief Executive Officer & Co-Founder of TabaPay
“The internet has reduced frictions in the payments system, but consumer preferences have evolved and they now expect optionality and speed in their transactions”, said Munish Varma, Managing Partner at SoftBank Investment Advisers. “Tabapay has built a single, unified API that allows instant payments across any payment method, on any device, anywhere. The company has generated impressive traction working with leading fintech brands across sectors including challenger banks and lenders, and we believe they are well placed to become a leading payments infrastructure for the digital age. We are delighted to partner with Rodney Robinson and the team to support their mission to make instant payments simple & universal.”
