TabaPay, a platform that provides a single point of management for money movement for banks and Fintechs, says it intends to acquire Denver-based Transact Bank, a federally chartered entity.
At the same time, TabaPay has received a $155 million investement from FTV Capital a growth equity investment firm with around $10.2 billion to invest, a portion of which is dedicated towards Fintechs.
TabaPay says if the regulators approve the acquisition, Transact Bank will be renamed TabaBank.
Rodney Robinson, co-founder and CEO of TabaPay, says the pending acquisition will bring payments and banking under a single entity, benefiting their current and future clients.
TabaPay reports it is on track to enable around $100 billion in payments in 2026 and currently ranks as the 5th-largest card-not-present processor in the US.
Following approval, TabaBank is expected to complement TabaPay’s existing partner bank network while supporting all major money movement rails, including RTP and FedNow; ACH and wire transfers; and card sponsorship across Visa, Mastercard, Discover, and more.
Robert Anderson, partner at FTV Capital, says that TabaPay is known for its reliability and scale. Anderson will join TabaPay’s board.
The acquisition makes sense for the firm, but TabaPay will not have this sector of Fintech to themselves as others provide overlapping services.
The proposed acquisition of Transact Bank is expected to close in the fourth quarter of 2026,
