The Tapi payment system, which is based in Argentina, has raised new financing for $22 million.

The mentioned money was received by the Argentine company following the results of the Series A financing round. The payment system intends to use these funds to realize its intentions aimed at stimulating the expansion of activities in Mexico. The corresponding statement was made by Tapi co-founder and chief executive officer Tomas Mindlin during a conversation with media representatives.

The specified company specializes in processing payment transactions for large Latin American consumer platforms such as Mercado Pago and the Lemon cryptocurrency exchange. Tapi predicts that in the current year, it will process payments worth about $400 million in five countries. It is worth noting that the expected figure is four times higher than the corresponding result for 2023.

Tapi raised $9 million in a seed funding round conducted in 2022.

Tomas Mindlin expects that in the next two years, Mexico will become the fastest-growing market among those in which his company is present. He stated that Tapi intends to work with fintech firms that are going to demonstrate significant growth, continue to ensure financial inclusion and transform cash into digital payments. Tomas Mindlin noted that in this context, the Mexican market is very important for his company. He expects that in a year 80% of the mentioned country’s banked population will interact with Tapi infrastructure.

While talking to media representatives, Tomas Mindlin declined to comment on the valuation of his company. Tapi currently employs about 70 people.

As we have reported earlier, SaaS Company Payabli Raises $20 Million.