Flutterwave, the unicorn African payment startup, has led a $3.4 million investment in Dapio alongside Techstars, PactVC and Daniel Gould, venture partner at Asymmetry Ventures.
The growth funding will enable Dapio to accelerate the launch of its’ Tap to Pay’ solution for Android users in the UK and Europe.
Founded in 2019 by Kosta Du and Grigory Gurbanov, Dapio, formerly Paymob, makes it easy for businesses to accept cashless payments quickly and securely in-store, over the phone or on the move, anywhere in the world. Its technology transforms any Android smartphone into a payment terminal able to accept contactless payments.
Dapio plans to launch its first direct-to-customer Android app soon to allow any business to instantly accept contactless payments with the tap of a card or mobile phone, without the hassle and cost of card scanning equipment. The fintech also partners with POS (point of sale) vendors, banks, telcos and other FinTechs and payment platforms who integrate its tech to offer their merchant customers’ Tap to Pay’ facilities, as part of its embedded finance solutions. Its current partners include ZmBIZI and Payment Plus.
Kosta Du, CEO & Co-Founder of Dapio, said, “In a world where we make more transactions than ever, it’s still far too difficult for small businesses to take payments from customers. It’s normal for consumers to make payments using their smartphones, so why not allow small businesses to take payments as well? ‘Tap to Pay’ has shown the world you don’t need complicated or expensive hardware to take frictionless payments.
“Our mission is to open this up to Android users across the UK and Europe. In doing so, we’re helping businesses grow faster by taking the pain out of complex payment systems so founders can focus on what’s important: improving the customer experience and developing their business.”
