Fintech Startup Touch And Pay Raises USD 3 Mn Funding

Nigerian fintech startup Touch and Pay is planning an expansion into a number of other African markets after securing a seed funding round worth USD 3 Mn.

Founded in 2019, Touch and Pay has developed a suite of near-field communication (NFC) based payment solutions for all sorts of situations. According to the co-founder, the startup plans to move towards a truly cashless society. TAP seeks to enable an organization to meet its revenue target in the informal sector by ensuring reliability in cashless transactions through its offline feature while solving the biggest challenges in the informal sector tax collection process using the TAP Automation Solution.