The importance has never been greater: COVID has not only had a devastating impact on many recipient communities, but also made traditional box-store solutions even more difficult to access. Taptap Send is building products to capture this opportunity, providing senders peace of mind with a secure, affordable solution, and recipients with an accessible, convenient way to receive this capital. Connecting more than a billion people to the financial grid for the first time, mobile money allows more people to be reached more quickly, securely and efficiently than ever before. The mobile money revolution has also changed the limit’s of what is possible with cross border flows, particularly in frontier markets. Informal remittances are estimated to be almost as large as those through formal channels: more than 7x since 2002. The formal $540B remittance market is the largest source of capital for low and middle income countries, surpassing foreign direct investment and official development assistance, combined. The new capital will allow the team to expand to additional diaspora communities, invest in product development and hire new talent to further improve the quality of service. The company enables remittances for some of the most underserved markets globally. Taptap Send provides individuals with a simple, convenient platform to send cross-border payments instantly and without fee 1. Taptap Send’s total funding now exceeds $80 million. NEW YORK-( BUSINESS WIRE)- Taptap Send, a community focused cross-border financial platform, today announced a $65M Series B funding round led by Spark Capital, with participation from Unbound and previous leads Reid Hoffman and Canaan Partners, along with Slow Ventures, Breyer Capital, Wamda Capital, Flourish Ventures, and additional investors from the Middle East, Africa, Asia and Latin America.
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