TabaPay raises $155 million and confirms plan to acquire Transact Bank NA in Colorado

TabaPay has raised $155 million in a strategic growth financing round led by first-time investor FTV Capital, and the money is going straight into its bid to acquire Transact Bank NA in Colorado. For high-risk PSPs, the interesting part is not just the price tag: the deal would add a federally chartered, FDIC-insured bank to TabaPay’s stack and widen its sponsorship and acquiring options.

1. TabaPay says the round includes both primary capital and a secondary transaction. It also brings FTV Capital partner Robert Anderson onto TabaPay’s board of directors. This is the first institutional investment figure TabaPay has disclosed; SoftBank Vision Fund 2 previously invested in 2022, but the amount was never revealed.
2. The acquisition target is Transact Bank NA, a federally chartered and FDIC-insured bank based in Denver. TabaPay says the deal is expected to close in Q4 2026, subject to regulatory approval, after which Transact Bank will be rebranded as TabaBank NA.
3. TabaPay has formed a new bank holding company, TabaHoldings Inc, to house the purchase. The company says TabaBank will “complement TabaPay’s existing partner bank network” and provide “additional redundancy and expertise for challenging use cases,” which is the sort of phrasing that usually matters when a payments business wants more than one path to settlement and sponsorship.
4. TabaPay says those use cases could include digital banking and debt repayment, alongside support for RTP, FedNow, ACH, wire transfers, and card sponsorship across Visa, Mastercard, Discover, and regional networks. It also says the $155 million capital injection should qualify TabaBank to serve as “an acquirer for all industries,” which is clearly the point for any merchant portfolio that does not fit neatly into vanilla acquiring.
5. The company is also planning an expansion into merchant liquidity solutions and says it is pursuing other “strategic acquisitions.” TabaPay says it is “on track to process more than $100 billion in payment volume this year.” The acquisition push follows its earlier attempt to buy select assets from the now defunct Banking-as-a-Service platform Synapse Financial Technologies in April 2024, a deal that fell through weeks later.

There is a bit of history behind the bank itself. Transact Bank used to be Colorado National Bank (CNB), which was saved from administration in 2018 by Transact Pro founders Mark Moskvin and Maxim Yaroshewsky for $9 million. Two years later, after a $2 million capital injection from Moskvin and Yaroshewsky and a Fiserv go-live, CNB was rebranded as Transact Bank and focused on card issuing and acquiring infrastructure for domestic and cross-border businesses.