Dapio secures $3.4 million in funding to supply ‘Faucet to Pay’ to Android customers in the UK and Europe. 

Dapio, an organization based mostly in the UK that allows firms to take contactless funds utilizing Android gadgets, has raised $3.4 million in a funding spherical. 

Along with Techstars, PactVC, and Daniel Gould, enterprise companion at Asymmetry Ventures, Flutterwave spearheaded the funding. 

Dapio, beforehand Paymob, permits companies to shortly and securely settle for cashless funds in-store, over the cellphone, or on the go, wherever on the planet. Its know-how converts any Android smartphone right into a contactless cost terminal. 

Dapio was based in London in 2019 by FinTech veterans Kosta Du and Grigory Gurbanov. The corporate additionally companions with POS (level of sale) distributors, banks, telcos, and different FinTechs and cost platforms to combine its know-how into their service provider clients’ Faucet to Pay capabilities as a part of their embedded finance options. ZmBIZI and Cost Plus are presently amongst its companions. 

Dapio permits these underserved SMEs to leverage the identical subtle cost infrastructure as bigger enterprises. 

“In a world the place we conduct extra transactions than ever earlier than, it’s nonetheless a lot too troublesome for small companies to just accept funds from clients,” acknowledged Kosta Du, CEO & Co-Founding father of Dapio. Shoppers are accustomed to creating funds through their cellphones; why not enable small firms to do the identical? ‘Faucet to Pay’ demonstrated to the world that frictionless funds don’t require intricate or costly {hardware}. Our goal is to make this obtainable to Android customers all through the UK and Europe. By eradicating the effort related to complicated cost programs, we allow entrepreneurs to give attention to what issues most: bettering the client expertise and rising their enterprise.” 

The startup will launch its first direct-to-customer Android app this spring, permitting any enterprise to just accept contactless funds with the faucet of a card or cell phone, with out the inconvenience or value of card scanning tools.

 

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