Flutterwave Makes $3.4 Million Investment in UK Contactless Pay Firm, Dapio

Flutterwave, the African unicorn payment startup, led a $3.4million investment in Dapio with 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.

Kosta Du founded the company in 2019 Grigory Gurbanov Dapio, formerly Paymob makes it simple for businesses to accept cashless payment quickly and securely in-store or over the phone, from anywhere in the world. With its technology, any Android smartphone can be transformed into a payment terminal capable of accepting contactless payments.

Dapio is set to launch its first direct Android app for customers soon. It will allow businesses to instantly accept contactless payment with just a tap of a card or mobile device, and without the hassle of scanning cards. 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. ZmBIZI, Payment Plus are its current partners.

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.”

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