![]() ![]() “With the pandemic pushing more than a hundred million people into extreme poverty and countless others into economic hardship, the importance of capital and the ease of moving it where it’s most needed has rarely been greater,” says Michael Faye, co-founder and CEO of Taptap Send. Underlining this, Taptap Send says that while the World Bank predicted a 25% decline in remittances since the onset of the pandemic, the company has seen more than 8x growth. Thanks to the spread of mobile phones, more than a billion people are now able to move money through mobile and digital-first solutions. The informal remittance market is estimated to be just as large. NEW YORK, December 20, 2021- 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 investo. Taptap Send says the $540 billion remittance market surpasses foreign direct investment and state aid for low and middle-income countries. The cash will be used to fuel further expansion, develop new products, and hire new talent. The platform allows users to send cross-border payments instantly and without fees, enabling remittances for some of the most underserved global markets. Taptap Send’s total funding now exceeds $80 million. ![]() The round was led by Spark Capital and saw 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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