[ Press Release ] Tazapay Announces New Funding and Launches Full Suite of Services Across Asia


Tazapay opens services to customers in India, Malaysia, Singapore and Thailand, discloses additional funding of US$1.75 million and expands senior headcount

Singapore – March 30 2021 – Tazapay, a digital escrow service for cross-border trade, today announces it is fully operational across India, Malaysia, Singapore and Thailand. Tazapay provides digital business verification and escrow services to small-medium enterprises (SME) who wish to boost business by increasing their number of trading partners and streamlining transactions.

Cross-border business-to-business (B2B) commerce for SMEs is an addressable market of approximately US$8 trillion globally, yet easily facilitating international trade remains a challenge. It’s largely based on trust, and it can be hard to feel confident about a trade partner, particularly if partners are unable to meet in-person. This leads to a significant number of deals falling through, slowing the growth of the businesses themselves as well as local and regional economies. Tazapay provides SMEs with fast, simple background checks on potential business partners and a digital escrow to give both buyers and sellers peace of mind. Tazapay holds funds securely until both parties have confirmed fulfilled their obligations of the trade.

“More efficient trade can no doubt have a significant positive impact on local, regional and global economies, and Tazapay is dedicated to helping trade partners build trust to boost business opportunities,” said Rahul Shinghal, CEO of Tazapay. “We help SMEs grow by offering a fully digital platform that is easy to access and integrate into their workflows. The markets in which we initially operate are significant trading corridors within APAC, and with the support of our growing team and investment partners we look forward to expanding our global footprint and offering more services in the future.”

Tazapay also announces additional investment of US$1.75 million from existing investors Sequoia Capital India’s Surge and Saison Capital, and new partners RTP Global and January Capital, on top of its original round of funding of US$3.2 million announced in early 2021. The new funding is earmarked for ramping up customer acquisition resources and scaling the technology and growth teams. Tazapay has recently welcomed its new head of product from global financial technology infrastructure platform Nium, and its head of growth from leading global payments platform Stripe.

“The Tazapay team has a great deal of collective experience in finance and payments, and we’ve been consistently impressed by their ambition to solve this urgent issue for SMEs,” said Benjamin Dunphy, Partner at January Capital. “As the world recalibrates after the global pandemic, Tazapay’s solution will become increasingly critical as businesses continue to shift rapidly to digital-first operations and look to drive growth by uncovering new business opportunities.”

“Inefficient cross-border trade is time-consuming and stressful. Deals often fall through because parties lack confidence in each other, causing business disruption, cash flow issues and limiting trading opportunities. COVID made this situation worse,” said Nazri Abdullah, CEO of Malaysia-based commodity trading company Ra2 Sdn Bhd and Tazapay customer. “Tazapay’s digital escrow service comes at a critical time. It puts both parties on equal footing and creates trust in the trade from the beginning. Tazapay also saves us a great deal of time in terms of background research about potential partners, speeding up deals so we can do more of them which ultimately helps us grow.”

Tazapay also confirms its partnership with Rapyd, a global Fintech-as-a-Service provider. Rapyd will be Tazapay’s exclusive payments facilitator, ensuring that sellers receive their full fees upon completion of a transaction.
SMEs in Singapore, Thailand, Malaysia, or India who wish to begin using Tazapay’s services can complete an easy sign-up process at www.tazapay.com. Tazapay is already facilitating transactions and has completed more than 500 background checks for customers.

About Tazapay
Tazapay is a secure digital payments platform for SMEs engaging in cross-border trade. It provides secure digital escrow to help reduce risk and increase confidence for both parties in a transaction and offers background to ensure more transparent trading. Founded in 2020 by former executives from companies including Stripe, PayPal, Grab and Standard Chartered, Tazapay has raised almost $5 million in funding from partners including Sequoia Capital India’s Surge, Saison Capital, RTP Global and January Capital. Find out more at www.tazapay.com.



Share on facebook
Share on twitter
Share on linkedin
Share on email


3 Innovations for a Cleaner Environment You Never Heard Of

3 Innovations for a Cleaner Environment You Never Heard Of

Innovation in clean energy, sustainable infrastructure and eco-friendly solutions to environmental hazards are the need of the hour. The burden on the world’s natural recourses is immense, and it is high time we focus on renewability and diversification. While we are only scratching the tip of the iceberg, here are three innovations working to create an environment-friendly future.

How Can Entrepreneurs Overcome Loneliness?

How Can Entrepreneurs Overcome Loneliness?

Starting your own business is a project that will take over most of your life. You are straying away from the typical 9-5 jobs that your friends and family may have. The sheer effort you have to make to get a business up and running will leave you feeling lonely. While it might seem almost expected to feel lonely during your startup journey, loneliness is a slippery slope to several health conditions.

8 Techniques to Get Readers Rolling Right into Your Content

8 Techniques to Get Readers Rolling Right into Your Content

We’ve all been there. We’ve spent hours crafting the perfect blog post, article or white paper, but no one is reading it. Why? It could be for a million reasons, but often it’s because we’re not doing enough to get people to come to our content. In this article, we’ll learn about the eight techniques that will help you draw in readers and get your content read!

Amazon vs Flipkart Who Will Win Festival Sale War in India

Amazon vs. Flipkart: Who Will Win the Big Festival Sale War in India?

Amazon India and Flipkart, the two biggest ecommerce giants in India, have always been in a neck-to-neck competition for supremacy in the country. There is no better occasion to showcase their strength and take advantage of people’s shopping mood than during the Indian festive season, which begins in late September featuring various festivals, like Durga Pooja, Dussehra and Diwali.

Reviewing Top AI Boyfriends on Google Play Store

Anima vs. Replika: Reviewing Top AI Boyfriends on Google Play Store

Finding your perfect match can be a long and tedious process. You can go on date after date and still have a long way to go before you find your soulmate. In the meantime, you can curb your loneliness by speaking to an artificial intelligence (AI) chatbot.There are dozens of AI chatbots on the market today that give you the experience of having someone to vent your issues to and discuss your daily lives with.