Taptap Send Gets $13.4 Million for a No-Fee Money Transfer Service Aimed at Price-Conscious Emerging Market Users
By Ingrid Lunden
Remittances — specifically when people in developed countries send money to family or friends in emerging markets — continue to be a huge lever to help those in more challenging economies survive and improve their lot. Today, a startup that has built a remittance platform that it believes is the most economically sympathetic and useful to the people who use those services the most is announcing some funding to continue growing.
Taptap Send, which provides a “free” mobile money transfer service from eight countries to 15 others, has raised $13.4 million, money that it will be using to continue expanding its scope and the services that it provides to its customers.
The 15 receiver countries include some of the poorest countries in the world that are the hardest to service, plus emerging markets with some of the poorest populations — DR Congo, Mali and Madagascar among them — while the eight originator countries include some of the most common places to which people from these countries emigrate — United Kingdom, Belgium, Canada, France and Italy among them.
Photo courtesy of AMISOM Public Information.