TabaPay operates behind the financial apps people use to receive wages, fund accounts and move money. The payments-infrastructure company announced a $155 million growth transaction on September 2, alongside plans to acquire Transact Bank and combine more of its payment and banking capabilities.
Its customers are businesses such as fintech platforms and lenders, rather than people downloading a standalone TabaPay wallet. Through one application programming interface, or API, those businesses can initiate payments across card networks and bank systems. An earned-wage service, for example, can use the infrastructure to deliver money to a worker without building separate connections to every network itself.
TabaPay's offering extends beyond the connection alone. FTV Capital's investment explanation describes routing, bank relationships and operational capabilities designed to handle complicated payment flows. Its thesis is that specialist infrastructure becomes more valuable as customers' volumes grow. That is the investor's assessment, but it identifies the work a customer would otherwise have to assemble across multiple providers.
The company says it works with more than 20 partner banks in the U.S. and Canada and is on track to process more than $100 billion in 2026. That figure is a payment-volume target, not TabaPay's revenue or cash on its balance sheet. Its own product site lists uses ranging from account funding and payroll to healthcare reimbursements and recurring payments, illustrating why reliability across different payment methods is central to the business.
FTV led the financing, and partner Robert Anderson joined the board. The $155 million combines new capital for TabaPay with purchases of existing shares; the announcement does not separate the two. Captables therefore does not treat the entire transaction as dollars raised by the company. FinTech Futures notes that SoftBank Vision Fund 2 previously invested in 2022 without disclosing the amount.
The proposed Transact Bank acquisition is expected to close in the fourth quarter of 2026, subject to regulatory approval. The planned TabaBank would complement, rather than replace, the existing bank network. Captables' read: owning a bank could give TabaPay greater control over how its services are delivered. The test is whether it can add that capability while preserving the broad partnerships and dependable operations its customers already need.