Tapi's Market Expansion Strategy in Mexico

Argentina - based Startup company Tapi has successfully secured 2 million in new funding , specifically in the Series A round . The funds will be utilized to support the company 's expansion into Mexico , as stated by Co - Founder / CEO Tomas Mindlin in an interview with Bloomberg News on July 12 . Tapi is known for processing payments for major Latin American consumer platforms such as Mercado Pago and cryptocurrency exchange Lemon . The company is expected to handle approximately 00 million in payments this year across the five countries where it operates , marking a four - fold increase from last year 's performance.

In addition to the recent Series A round , Tapi previously raised million in a seed round back in 2022 . Mindlin expressed his optimism about Mexico becoming the company 's fastest - growing market in the next two years , emphasizing the significance of collaborating with leading FinTechs to promote financial inclusion and the transition from cash to digital payments . He anticipates that Tapi will establish partnerships with 80 % of the banked population in Mexico within a year , leveraging its robust infrastructure to drive growth.

Despite the substantial funding and ambitious expansion plans , Mindlin refrained from disclosing the exact valuation of Tapi . The company , which currently employs approximately 70 individuals mainly in Argentina , aims to increase its total payment volume by fivefold by the end of the year , reaching 10 million transactions per month . Tapi 's name reflects Mindlin 's earlier project , a digital wallet named TAP , combined with API ( application programming interface ) , which underpins the company 's technological framework.

Furthermore , a recent report by PYMNTS highlighted the digital payments landscape in Mexico , underscoring the demand for enhanced digital shopping features among consumers . While nearly half of Mexican shoppers still prefer traditional in - store purchases , the lack of digital offerings from merchants has hindered the adoption of digital shopping features . However , the appeal of digital features lies in their ability to save money and enhance the overall shopping experience for consumers , aligning with the global trend of integrating digital solutions into brick - and - mortar retail environments.

In conclusion , Tapi 's successful fundraising efforts and strategic expansion into Mexico position the company as a key player in the rapidly evolving FinTech landscape in Latin America . By leveraging innovative technology and strong partnerships , Tapi aims to drive financial inclusion and facilitate the transition to digital payments , catering to the evolving needs of consumers in the region.