Fun

Creator of App for Remittances to Africa and Asia Raises $65 Million in Series B Round

News Feed - 2021-12-26 08:12:24

Creator of App for Remittances to Africa and Asia Raises $65 Million in Series B Round


Tap Send, the creator of a remittances app of the same name, revealed it has raised $65 million in a Series B funding round. The fintech firm plans to use the funds to build a cheaper and faster cross-border money transfer platform. Remittances to Overlooked Countries


The fintech startup behind the remittances app, Tap Send, recently said it has raised $65 million in a Series B funding round. According to the startup, the funds raised will be used to bolster remittances to the most overlooked countries in Africa and Asia.


As stated in a Techcrunch report, Tap Send’s latest capital raise — which surpassed the Series A total raise of $13.4 million — was led by Spark Capital. Other participants in the round included Unbound, Reid Hoffman, Canaan Partners, Slow Ventures, Breyer Capital, Wamda Capital, Flourish Ventures, and additional unnamed investors.


Market Said to Be Crowded


In comments following the funding round, Tap Send co-founder and CEO Paul Niehaus explained why his firm chose to focus on remittances even though this now appears to be an overcrowded market. Niehaus explained: It’s quite easy to say remittances are crowded, but you could have said that for social networking or videoconferencing before TikTok or Zoom came along. Remittances are a deceptively simple product on the surface, with an exceedingly complicated execution under the hood. There are 1,000 parts to get right and when you do you can deliver more value to users via price, speed and reliability.


Following this latest funding round, Tap Send has now raised more than $80 million which translates to a valuation of $715 million according to Pitchbook data. Tags in this story Africa finetch, Africa fintech, cross border remittances, Paul Niehaus, Series B, social networks, Tap Send, tiktok


What are your thoughts on Tap Send’s perceived market valuation? Tell us what you think in the comments section below. Terence Zimwara


Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Start-up Raises $2 Million to Pioneer Cryptocurrency Usage in Francophone Africa CROWDFUNDING | Oct 9, 2021 Pan-African Exchange Yellow Card Raises $15 Million in Latest Funding Round CROWDFUNDING | Sep 29, 2021


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleUST Gets Listed on Binance and Huobi, Propelling Terra to $100 Next articleWhat You Can Create With a Small Piece of Land in the Metaverse Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk Launches "Last Trick" NFT Collection to Commemorate Career and Signature Moves


Following the American professional skateboarder Tony Hawk’s first non-fungible token (NFT) sale on the NFT marketplace Autograph, Hawk is commemorating his career with a new series of NFTs called the “Last Trick” collection. The popular skateboarder’s latest digital collectibles showcase ... read more.Adidas Reveals the Originals NFT Collection With Punks Comics, Gmoney, Bored Apes New Cryptocurrency Bill Advances to Senate in Brazil Indian Crypto Exchange Says 82% of Users Earn Profits This Year, Trading Volume Soars 1,735% Polygon, Reddit Co-Founder"s VC Firm Launch $200 Million Social Media Web3 Fund

News Feed

Brayden Lindrea2 hours agoAtomic Wallet asks to toss suit over $100M hack, saying it has ‘no US ties’The Estonia-based firm noted that only one plaintiff in the class action lawsuit is actually based in Colorado, whe
Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales
Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales Cryptocurrency-related lending has become a black smudge for the
Paxos receives in-principle approval to issue stablecoins in Abu Dhabi
Turner Wright6 hours agoPaxos receives in-principle approval to issue stablecoins in Abu DhabiThe approval followed a similar move by regulators in Singapore, where Paxos said its local entity would launch a U.S. dollar-
Gemini reaches settlement with IRA Financial Trust over $36M exploit
Turner Wright3 hours agoGemini reaches settlement with IRA Financial Trust over $36M exploitThe lawsuit, initially filed by IRA in June 2022, alleged that Gemini misrepresented its security protections, resulting in an e
Human Rights Foundation’s Alex Gladstein Calls Bitcoin ‘An Escape Hatch From Tyranny’
Human Rights Foundation"s Alex Gladstein Calls Bitcoin "An Escape Hatch From Tyranny" The Human Rights Foundation (HRF)’s Alex Gladstein has heaped praise
Bitcoin, Ethereum Technical Analysis: Bullish Sentiment Returns to BTC Following Yesterday’s Sell-Off
Bitcoin, Ethereum Technical Analysis: Bullish Sentiment Returns to BTC Following Yesterday’s Sell-Off Following yesterday’s drop in price, bitcoin stabilized during Thursd
Digital Wealth Pioneer Yield App Unveils Mobile App for iOS and Android
Digital Wealth Pioneer Yield App Unveils Mobile App for iOS and Android press release PRESS RELEASE.ESTONIA — 17 JUNE 2022 —Yield App, a global FinTech company and dig
Ertha to Prime List Huobi on January 4th
Ertha to Prime List Huobi on January 4th sponsored Ertha’s Listing and TGE will be hosted on Huobi as a Prime List on the 4th of January, 2022. Listing on Huobi ensures that
XRP Price To New All-Time High? Analyst Says $5.8 Is Possible Following ‘Golden Cross’
Este artículo también está disponible en español. The XRP price action has been one of the brighter spots in the cryptocurrency space in 2025, weathering virtually every
Bitcoin price consolidation preps NEAR, APT, RNDR and MKR for more upside
Rakesh Upadhyay5 hours agoBitcoin price consolidation preps NEAR, APT, RNDR and MKR for more upsideBitcoin recovered the $68,000 level, triggering buying in NEAR, APT, RNDR and MKR.3147 Total views3 Total sharesListen to
Sam Bankman-Fried, FTX, Alameda Were Accused of Conspiracy, Racketeering, and Market Manipulation 3 Years Before FTX Collapsed
Sam Bankman-Fried, FTX, Alameda Were Accused of Conspiracy, Racketeering, and Market Manipulation 3 Years Before FTX Collapsed Amid the latest bankruptcy case filed by FTX Trading
US judge approves Terraform’s $4.5B settlement with SEC
Jesse Coghlan1 hour agoUS judge approves Terraform’s $4.5B settlement with SECA New York district court judge has rubber-stamped Terraform Labs and Do Kwon’s nearly $4.5 billion settlement with the SEC.451 Total view