TABAPAY RAISES $155M AS IT MOVES INTO BANKING

Summary from the TLDR Fintech newsletter

TabaPay raised $155 million in strategic growth financing from FTV Capital as it prepares to acquire Transact Bank and rebrand it as TabaBank, bringing banking and payments capabilities under one corporate structure. The company, which expects to process more than $100 billion this year, plans to use the bank to expand sponsor banking, card sponsorship, acquiring, and access to rails including RTP, FedNow, ACH, and wires while continuing to work with its existing bank partners.