The archive · Money & Fintech · Strategic decision · 2022–2026
Tapi's recurring-payments bet: US$60M raised as LatAm's cash economy digitizes
Argentina's Tapi bet LatAm's recurring bill payments needed regional rails; US$60M raised, profitable by 2026 with a Mastercard-unit buy in Mexico.
Tapi
What the business is
Tapi is an Argentine payments and collections network that connects banks, fintechs, retail chains and service companies so users can pay recurring bills — utilities, schools, gyms, digital services — across five Latin American countries.
Starting capital：US$9M seed (2022), US$22M Series A led by Kaszek with a16z (2024), US$27M Series B led by Kaszek with Endeavor Catalyst and Latitud (2026) — about US$60M total.
How it started
Mindlin, Litvin and Andriano launched Tapi in 2022, betting that utilities, tuition and subscription payments were the neglected core of LatAm's payment system. They raised a US$9M seed led by a16z and began processing payments for big consumer platforms such as Mercado Pago and crypto exchange Lemon.
What happened
In July 2024, Kaszek led a US$22M Series A with a16z returning; Tapi expected to process about US$400M in payments that year across five countries and to quintuple volume to 10 million transactions a month. In 2025 revenue grew tenfold in 18 months, the company turned profitable, and it made its first acquisition: two Arcus business units bought from Mastercard in Mexico, covering service payments, mobile top-ups, gift cards and cash in/out. It also launched Tapi Pay for SMEs.
How it ended up
In February 2026, Tapi closed a US$27M Series B led by Kaszek with Endeavor Catalyst and Latitud, bringing total funding to about US$60M. The company processes over 250 million transactions worth more than US$6 billion a year through a network of 70,000 physical points and 20,000 businesses across Argentina, Mexico, Chile, Colombia and Peru.
Background
Tapi was founded in Argentina in 2022 by Tomás Mindlin, Kevin Litvin and Nicolás Andriano on a simple observation: LatAm's payment system was built for one-off purchases, while utilities, tuition, gyms and subscriptions still ran on cash and paper. They set out to build the region's network for recurring payments — connecting banks, fintechs, retail chains and billers so any company could collect from anywhere.
Investors backed the bet through its stages: a US$9M seed led by a16z in 2022, a US$22M Series A led by Kaszek in July 2024 (when Tapi expected to process about US$400M in payments across five countries), and a US$27M Series B led by Kaszek with Endeavor Catalyst in February 2026. In 2025 Tapi's revenue grew tenfold in 18 months and it became profitable, bought two Arcus units from Mastercard in Mexico, and launched Tapi Pay for SMEs.
As of early 2026, Tapi processes more than 250 million transactions worth over US$6 billion a year through 70,000 physical points and 20,000 businesses in Argentina, Mexico, Chile, Colombia and Peru. Mexico is the growth focus — over 80% of transactions there are still cash — and Tapi now sits behind apps including Naranja X, Ualá, YPF and Lemon.
What has to be true
- Recurring payments are high-frequency and sticky, so each integrated biller generates steady volume without constant acquisition.
- Building proprietary rails in five markets created a moat against single-country fintechs.
- Cash-heavy Mexico gave the network its biggest conversion runway as digitization accelerated.
- The Arcus purchase added a cash in/out footprint (OXXO, 7-Eleven) instead of forcing a slow build.
- Capital discipline — profitability within three years — kept the expansion funded by Kaszek at scale.
What can be applied
Tapi won by choosing the boring slice — recurring bills — and building rails for it across fragmented markets, so every fintech in the region became a potential distribution channel.
Aftermath
As of September 2026 Tapi is live and scaling across Argentina, Mexico, Chile, Colombia and Peru. After its February 2026 Series B, the company is deepening its Mexican network through Tapi Pay, embedding collections into apps such as YPF's in Argentina, and hiring in its Buenos Aires base. No plans to raise again or sell have been announced; the stated goal is to become LatAm's most robust payments and collections network.
Sources
- Kaszek y Andreessen apuestan por fintech argentina Tapi en ronda de US$22 millones
- Tapi levanta US$27 millones para expandir su red de pagos y cobros en la región
- Una fintech local recibió una nueva inversión y en pocos años ya recaudó USD 60 millones: su planes en Argentina y la región
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