TabaPay is a money movement platform specializing in payments for regulated and emerging industries, including fintech, lending, and platforms. Through a single API, TabaPay enables instant pay-ins and payouts across card and bank rails, helping customers reduce costs by up to 75%, improve reliability, and simplify complex payment workflows. With a network of more than 20 partner banks across the U.S. and Canada, the company is on track to process more than $100 billion in payment volume this year, ranks as the fifth-largest card-not-present processor by transaction count in the U.S., serves one-third of American households, and has achieved profitable growth at scale.
This financing will be used to strengthen TabaPay's integrated payments and money movement capabilities. It is also expected to qualify TabaBank to serve as an acquirer for all industries, across all major card networks. This will strengthen TabaPay’s sponsorship capabilities for merchants, ISOs, payment facilitators and other platform customers. It also will serve to accelerate TabaPay’s product roadmap, including developing innovative merchant liquidity solutions and pursuing strategic acquisitions.
The Reed Smith deal team was led by partners Teresa M. L. Tate, co-chair of the firm’s U.S. Emerging Companies & Venture Capital Group, and Grant Butler. The team also included partners Ron J. Scharnberg, Michael S. Lee, Nick Foreste, Ian Sherwin, Michael Kleinmann, Douglas Rawles, and Allison Sizemore, and associates Trey Calver, Anastassia Korin, Zach Baker, and Evan Sweeney.
Reed Smith is also representing TabaPay in its recently announced proposed acquisition of Transact Bank, N.A.
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