![]() ![]() ![]() 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 limits 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 $540 billion 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 different diaspora communities, invest in product development, and hire new talent to improve service quality. The company enables remittances for some of the most underserved markets globally. Taptap Send provides individuals with a simple, convenient platform to instantly send cross-border payments without a fee. Taptap Send’s total funding now exceeds $80 million. Alarko Capital, Esas Ventures, Finberg, First Minute Capital, FJ Labs, Patamar Capital, To.Taptap Send, a community-focused cross-border financial platform, recently announced a $65 million 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.Je suis donc particulièrement heureuse et fière de ce nouveau financement qui va nous aider à étendre notre champ d’action et me permettre à titre personnel de contribuer davantage au développement du continent africain. La diaspora est aujourd'hui le premier investisseur du continent et Taptap Send en facilitant le transfert d'argent, favorise ainsi directement l’inclusion financière des bénéficiaires en Afrique. Aujourd’hui, c’est toute ma famille camerounaise, mes voisines congolaises, mes amies maliennes qui l’utilisent au quotidien. ![]() Lorsque j’ai rejoint Taptap Send, mon mari et ma belle famille sénégalaises étaient déjà utilisateurs de l’application depuis plus d’un an. J'ai grandi en région parisienne dans une ville monde, cosmopolite, entourée de nombreuses diasporas africaines : sénégalaises, maliennes, congolaises, ivoiriennes… Toute ma vie, j'ai été témoin des valeurs de solidarité et de partage communes à toutes ces diasporas. Mes parents ont quitté leur famille au Cameroun et sont venus en France faire leurs études au milieu des années 80. (See our previous post for more on our motivation for starting Taptap Send.) Beyond global goals though, this venture is about people and communities and there’s nobody better to explain why we’re doing what we’re doing than the founding teams from the specific countries themselves: And in the process, accelerate the realization of the Sustainable Development Goal to reduce global inequality to which we’re committed. The $65M investment in Taptap Send will allow us to invest even more in the communities we serve, increasing the quality of service, improving speed while lowering cost, and helping our users with their financial needs, independent of borders. It also, of course, means that we’ll be able to scale even faster by opening new markets to bring instant, no fee, mobile transfers to those that benefit the most. Beyond this group’s successful track record, we’re particularly excited by their global reach - from places as diverse as Nigeria, Jordan, and India - and their commitment to helping individual diasporas send money home. They’re joined by previous leads Reid Hoffman and Canaan Partners among many others 2. We're excited to announce our Series B and welcome our new investors 1, led by Spark Capital, to the Taptap team. ![]()
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