Cashless payment firm Dapio has raised $3.4 million.

The firm, formerly known as Paymob, was founded in London in 2019 by Kosta Du and Grigory Gurbanov.

Dapio partners with POS (Point-of-Sale) vendors, banks, telcos and other FinTechs and payment platforms who integrate its tech to offer their merchant customers embedded finance solutions.

The company said its current partners include ZmBIZI and Payment Plus and that it will use the capital to launch its ‘Tap to Pay’ solution for Android users in the UK and Europe

The funding was led by Flutterwave alongside Techstars, PactVC and Daniel Gould, venture partner at Asymmetry Ventures.

“In a world where we make more transactions than ever, it’s still far too difficult for small businesses to take payments from customers,” said Kosta Du, chief executive and co-founder of Dapio. “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.”

He added: “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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