# TabaPay closes $155 million financing, plans Transact Bank purchase

> FTV Capital led the financing, which includes primary capital and a secondary transaction. TabaPay separately said it is on track to process more than $100 billion in payment volume this year.

- Publication: Go Big News
- By Go Big News Staff (Staff News)
- Category: Finance
- Published: 2026-09-05T12:10:06.565+00:00
- Canonical: https://www.gobignews.com/finance/tabapay-closes-155-million-financing-plans-transact-bank-purchase

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TabaPay said in a [Sept. 2 release](https://ftvcapital.com/2026/tabapay-closes-155-million-strategic-growth-financing-led-by-ftv-capital-and-announces-planned-acquisition-of-transact-bank/) that it closed $155 million in strategic growth financing led by FTV Capital and plans to acquire Transact Bank, N.A. The OCC-chartered and FDIC-insured bank is based in Denver, Colorado.

The financing includes primary capital for TabaPay and a secondary transaction. FTV Capital partner Robert Anderson joined TabaPay's board as part of the deal.

TabaPay said Transact Bank would be renamed TabaBank, N.A. after the acquisition. TabaBank and TabaPay would operate under TabaHoldings, Inc., a newly registered bank holding company.

American Banker reported that a TabaPay representative confirmed the acquisition request has been filed and is pending regulatory approval. The publication also reported that FDIC call reports showed Transact Bank had about $6.4 million in assets.

TabaPay co-founder and CEO Rodney Robinson said the planned bank would combine payments and banking capabilities while TabaPay continues working with its bank partners. The company said it has more than 20 partner banks across the U.S. and Canada.

TabaPay said TabaBank would support RTP, FedNow, ACH and wire transfers, along with card sponsorship across Visa, Mastercard, Discover and regional networks. The company expects the $155 million investment to help the bank qualify as an acquirer across industries and major card networks and to fund merchant liquidity products and other acquisitions.

The company said it ranks as the fifth-largest U.S. card-not-present processor by transaction count and serves one-third of American households. Its platform gives regulated businesses a single API for accepting payments, sending payouts and monitoring transactions across card and bank-account rails.

As [Go Big News reported on Sept. 4](https://www.gobignews.com/finance/tabapay-reports-100-billion-annual-run-rate), TabaPay's website lists $100 billion in annualized payment volume processed. Separately, TabaPay said it is on track to process more than $100 billion in payment volume this year.

Founded in 2017 and based in Mountain View, California, TabaPay identifies Robinson, Manoj Verma and Marvin Mah as its co-founders. Verma is chief revenue officer, and Mah is chief technology officer.

TabaPay expects the Transact Bank acquisition to close in the fourth quarter of 2026, subject to customary regulatory approval.

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## X profiles in this story

- @tabapayments: https://www.gobignews.com/profile/tabapayments