Dapio

Dapio, formerly known as Paymob, is a London-based financial technology company established in 2019 by fintech veterans Kosta Du and Grigory Gurbanov. The firm operates as a payment solutions provider, with a core offering that transforms Android smartphones into point-of-sale (POS) terminals using Near Field Communication (NFC) technology. This 'Tap to Pay' solution is designed to serve a market segment that has been historically underserved by traditional payment providers, specifically micro-businesses, sole traders, and gig economy workers. By eliminating the need for clunky and expensive hardware, Dapio provides these businesses with access to the same robust payments infrastructure as larger organizations.

The company's primary product is a mobile application that allows businesses to accept contactless payments from credit cards and e-wallets directly on their NFC-enabled Android phones. Beyond its direct-to-customer app, Dapio offers its technology as an embedded finance solution through a Software Development Kit (SDK) and App-to-app callback APIs. This allows partners such as POS vendors, banks, and other fintech platforms to integrate Dapio's 'Tap to Pay' functionality into their own applications. The company's business model extends to a suite of financial tools including multi-currency IBAN accounts (EUR, USD, GBP), virtual and physical corporate cards with spending controls, and online checkout solutions for e-commerce. Revenue is generated from these payment processing services and financial products.

Co-founder and CEO Kosta Du, an entrepreneur with nearly two decades of experience in tech ventures, was motivated by his own difficulties in accessing financial services upon moving to the UK. His international background, with time spent in Moscow, New York, China, and Egypt, informed his vision to simplify financial services for businesses globally. In March 2022, Dapio secured $3.4 million in a Series A funding round co-led by African payments giant Flutterwave and Techstars, with participation from PactVC and Asymmetry Ventures. This capital has been aimed at fueling the rollout of its 'Tap to Pay' solution across the UK and Europe, targeting the significant portion of the market that uses Android devices.

Keywords: Tap to Pay, mobile point of sale, mPOS, contactless payments, NFC payments, embedded finance, payment gateway, financial technology, small business payments, sole trader solutions, gig economy payments, Android payment solutions, payment processing, multi-currency accounts, corporate cards, online checkout, payment SDK, payment API, Flutterwave, Techstars