Taptap Send Raises $13.4 Million to Expand Mobile Money Transfer Services Across the Globe

In today's interconnected world, cross-border money transfers have become an essential tool for individuals and businesses alike. However, not all regions are equally well-served by existing remittance services. To address this issue, Michael Faye, Taptap Send's co-founder, has launched a revolutionary mobile money transfer platform that connects 15 receiver countries to eight originator countries.

The startup's recent Series A funding round, which garnered $13.4 million, was led by Canaan Partners and Reid Hoffman, with other unnamed investors participating. This significant investment will enable Taptap Send to continue expanding its scope and services, making it easier for individuals in emerging markets to receive financial support from their loved ones abroad.

Taptap Send's innovative approach focuses on the most economically sympathetic and useful remittance platform for those who use these services the most. By providing a 'free' mobile money transfer service, the company aims to bridge the financial gap between developed and developing countries. The 15 receiver countries, including some of the poorest in the world such as DR Congo, Mali, and Madagascar, will benefit from this service.

The eight originator countries, which are among the most common places where people emigrate from these regions, include the United Kingdom, Belgium, Canada, France, and Italy. Taptap Send's platform has the potential to revolutionize remittances by providing a more efficient, cost-effective, and user-friendly experience for both senders and receivers.

Remittances play a vital role in helping people in emerging markets survive and improve their economic situation. In fact, they can be a huge lever for development, enabling individuals to invest in education, healthcare, and other essential services. By expanding its services and reach, Taptap Send is poised to make a significant impact on the lives of millions of people worldwide.

As the company continues to grow and evolve, it will be interesting to see how Taptap Send's innovative approach to remittances shapes the future of cross-border money transfers. With its commitment to economic sympathy and user-friendliness, this startup is well-positioned to make a positive difference in the lives of individuals and communities around the world.

Michael faye taptap send