“We couldn’t be more excited to be joining them on our mission to bring low-cost, accessible, cross-border financial products to underserved diaspora populations around the world.” He also said that the company was “excited” about the development. “We’ve looked at a lot of fintech companies in the space, and think Taptap’s team and community-led approach are best in class.” He stated that the firm had explored a wide variety of financial technology companies in the industry before settling on Taptap. Meanwhile, James Kuklinski, a Spark Capital investor, said that Taptap was one of top firms in the sector. “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,” he explained. Michael Faye said that the pandemic had led to over a hundred million people falling into serious poverty. In a statement, Taptap Send’s co-founder and chief executive officer said that the move was happening in the context of the ongoing coronavirus pandemic. The company provides individual consumers with a way to send money abroad without fees. This takes Taptap’s total amount of available funding to over US$80m. Slow Ventures, Breyer Capital, Wamda Capital, Flourish Ventures, and a number of other global investors were also represented. It comes alongside contributions from a range of other backers including Canaan Partners and Reid Hoffman. The company said that the money had primarily been raised by a firm called Spark Capital. Taptap Send, a community-oriented finance and cross-border payments platform, has confirmed that it has managed to raise US$65m in Series B funding.
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