French Tagpay is one the most used online payment services. The service is available in more than 145 countries, and it can be accessed via any internet connection. It is a convenient and secure payment option that makes it an attractive choice for international travelers. French Tagpay offers a range of payment options, including mobile payment and credit cards.
Long Arc Capital, a New York-based private equity firm, has led the latest round of funding for TagPay. The fund raised EUR25million. Long Arc will help TagPay with strategic advice and human capital. The startup continues to provide financial institutions with its entire suite of open, scalable Core Banking System technology.
TagPay’s mission is to transform the old Core Banking System (CBS), which was often viewed as slow and expensive, into scalable technology platforms that have an open architecture and low total costs of ownership.
Its solution is quick to release and provides all the business features players require (KYC/AML-CFT/General Ledger, General Ledger, General Ledger). Customer features (account management and card management, SEPA etc.) Its CBS allows financial institutions with better innovation capabilities to be more agile and scalable. This allows them to focus on their products and distribution.
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TagPay was launched in 2016 and has been used by more than 20 financial institutions (retail banks, digital banks, and e money institutions) to help them digitize. TagPay is well-known in Africa, LATAM and Europe.
The company plans to use this funding to further its European growth, expand its customer base to approximately fifty financial institutions, manage bank accounts for more than 30 million end-customers and adapt to local market specificities.
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