Tiger Global in Talks to Invest in Indian Fintech Yap

Tiger Global Nears Investment in Indian Fintech Yap

Tiger Global is reportedly nearing a deal to invest in Yap, an Indian startup specializing in embedded finance. Sources with knowledge of the negotiations indicate the discussions are progressing significantly.

Details of the Potential Funding

The New York-based investment firm is considering leading a $35 million funding round for Yap, which also operates under the names YapPay and M2P. This investment would value the Bangalore-headquartered company at approximately $350 million.

This proposed valuation represents a substantial increase from Yap’s valuation of around $67 million in March of this year, as reported by the data platform Tracxn.

Investment Breakdown and Round Details

According to several individuals involved in the discussions, Tiger Global is planning to contribute between $25 million and $30 million to this Series C funding round.

It’s important to note that the round is still under negotiation, and the final investment amount and terms are subject to change.

Yap's Business and Existing Investors

Yap provides an API infrastructure platform, enabling other companies to integrate and develop payment services. The startup has already secured approximately $15.9 million in funding to date.

Existing investors in Yap include prominent firms such as Better Capital, BeeNext, AngelList, Omidyar Network, and 8i.

Tiger Global's Continued Investment in India

Should this investment be finalized, it will represent another addition to Tiger Global’s growing portfolio of Indian startups. The firm has already invested in over a dozen Indian companies throughout the current year.