In February 2026, Tapi, an Argentine fintech firm, secured USD 27 million in Series B funding led by Kaszek Ventures for its expansion into the Mexican market.
The financing round also included contributions from Endeavor Catalyst and Latitud. The company plans to use these funds primarily for employee recruitment, advancing payment service capabilities, and exploring potential acquisitions within Mexico.
Tapi’s platform facilitates cash deposits and bill payments via retail partnerships such as convenience stores, pharmacies, and major retailers. Approximately 25 million transactions occur monthly through the network, with a significant portion transpiring in Mexico.
Focusing on Financial Inclusion
Tapi connects digital financial services to physical retail points for cash transactions. Customers can deposit cash or pay bills at partner stores, which are strategically located for easy access by a large segment of the population.
With Mexico’s population standing at around 135 million as of now, Tapi aims to capitalize on this sizable market, where approximately 63% of adults held formal bank accounts in 2023 according to World Bank data. This highlights the significant portion of people who still rely on cash transactions.
Navigating the Cash-to-Digital Ecosystem
Digital banks and fintech firms require robust infrastructure for cash deposits, especially in regions where a high percentage of transactions are conducted in cash. Tapi’s strategy involves expanding its staff and developing new payment offerings beyond just cash deposits and bill payments.
Mexico’s financial services sector has seen substantial investment from fintech companies since 2020, with digital banking, payments, and lending ventures raising billions in venture capital. The Fintech Law, enacted in 2018, sets out licensing requirements for various financial service providers including payment institutions and electronic money issuers.
Tapi works closely with retail partners to enable transactions at their locations. This involves forming agreements, integrating point-of-sale systems, managing cash flow, and settling payments with financial service clients.
