Taptap Send, Inc.

Based in the US, Taptap Send, Inc. operates as a mobile money transfer service, enabling users to send funds conveniently across multiple global markets, specializing in regions like Africa, Asia, the Caribbean, and Latin America. Taptap Send, Inc. is a mobile money transfer service founded in 2018, headquartered in Wilmington, US.

The company enables international money transfers directly to mobile wallets in targeted regions. The founders include Michael Faye, Fatimatou Ousmanou, Marouane Benkhechane, Oelitiana Mathieu, and Osasu Osagie. The latest funding round was a Series B in September 2021, where the company raised USD 65 mn from a group of investors led by Spark Capital, with participation from numerous others. This funding has facilitated four deals to date, all aiming at enhancing their operational capabilities.

Taptap Send specializes in providing a mobile money transfer service, allowing users to send money easily and efficiently across multiple global markets. Their primary product is a smartphone application that enables users to transfer money from countries like the UK, EU, US, UAE, Canada, and Australia directly into mobile wallets of recipients in regions such as Africa, Asia, the Caribbean, and Latin America. The app facilitates transactions using just a debit card, requiring minimal details like the recipient's name and mobile number, and offers competitive exchange rates, addressing the need for accessible remittances. Taptap Send generates revenue through transaction fees applied to money transfers via its platform.

Each international transfer incurs a fee, structured for affordability for individuals sending remittances. Their pricing model aims to provide competitive rates, ensuring customers benefit from favorable exchange rates while minimizing transfer costs. This strategy supports their direct-to-consumer business approach, fostering loyalty through a streamlined user experience. In September 2021, Taptap Send raised USD 65 mn in Series B funding, which will be directed towards expanding into additional diaspora communities, enhancing product development, and increasing their workforce.

The company is strategically aiming to launch new products and expand its services into new geographic markets, focusing on regions with significant diaspora populations. These plans are expected to support Taptap Send's operational growth and service reach, aligning with their commitment to improving money transfer solutions.