Dapio, a company based in the United Kingdom that enables companies to take contactless payments using Android devices, has raised $3.4 million in a funding round.
Together with Techstars, PactVC, and Daniel Gould, venture partner at Asymmetry Ventures, Flutterwave spearheaded the funding.
Dapio, previously Paymob, enables businesses to quickly and securely accept cashless payments in-store, over the phone, or on the go, anywhere in the world. Its technology converts any Android smartphone into a contactless payment terminal.
Dapio was founded in London in 2019 by FinTech veterans Kosta Du and Grigory Gurbanov. The company also partners with POS (point of sale) vendors, banks, telcos, and other FinTechs and payment platforms to integrate its technology into their merchant customers’ Tap to Pay capabilities as part of their embedded finance solutions. ZmBIZI and Payment Plus are currently among its partners.
Dapio enables these underserved SMEs to leverage the same sophisticated payment infrastructure as larger enterprises.
“In a world where we conduct more transactions than ever before, it is still much too difficult for small businesses to accept payments from customers,” stated Kosta Du, CEO & Co-Founder of Dapio. Consumers are accustomed to making payments via their cellphones; why not allow small companies to do the same? ‘Tap to Pay’ demonstrated to the world that frictionless payments do not require intricate or expensive hardware. Our objective is to make this available to Android users throughout the United Kingdom and Europe. By removing the hassle associated with complex payment systems, we enable entrepreneurs to focus on what matters most: improving the customer experience and growing their business.”
The startup will release its first direct-to-customer Android app this spring, allowing any business to accept contactless payments with the tap of a card or mobile phone, without the inconvenience or cost of card scanning equipment.
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