---
title: "TabaPay Raises $155M — But It Is Not All New Primary Equity"
description: "FTV Capital led TabaPay's $155 million growth financing. The disclosed amount combines primary capital with a secondary transaction, alongside a planned acquisition of Transact Bank."
date: 2026-09-30T00:00:00.000Z
source: https://venturecapitaltracker.com/tabapay-155m-financing-transact-bank
---

# TabaPay Raises $155M — But It Is Not All New Primary Equity

> FTV Capital led TabaPay's $155 million growth financing. The disclosed amount combines primary capital with a secondary transaction, alongside a planned acquisition of Transact Bank.

**TL;DR:** TabaPay announced **$155 million of strategic growth financing** led by FTV Capital on September 2, 2026. FTV said the transaction includes both **primary capital and a secondary component**. TabaPay also announced plans to acquire **Transact Bank**, subject to regulatory approval.

Canonical company profile: [TabaPay](/startup/tabapay).

## What the $155M means

The headline number should not be read as "$155M of new money into TabaPay."

FTV's announcement explicitly says the financing includes:

- primary capital; and
- a secondary transaction.

Secondary capital generally purchases existing shares from current holders. It can provide liquidity without putting the entire transaction amount on the company's balance sheet.

## The bank acquisition

TabaPay also said it plans to acquire Transact Bank and rename it **TabaBank**, subject to regulatory approval.

That creates a second event that should be tracked separately from the financing itself. A planned acquisition is not the same as a completed acquisition, and regulatory approval remains a condition.

## Why the structure is strategically important

TabaPay already provides money-movement infrastructure across card and bank rails. Owning a regulated banking entity could change the economics and control available across parts of that stack.

The relevant questions become:

1. How much of the $155M is primary capital?
2. How much is secondary liquidity?
3. Does the Transact Bank acquisition close?
4. Which activities move inside the future bank entity?

Until those details are disclosed, VCT records the $155M at face value but does not characterize all of it as new equity financing.

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.