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Tazapay Revenue Jumps 71% as Net Loss Widens to US$7.36 Million

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Tazapay Revenue Jumps 71% as Net Loss Widens to US$7.36 Million

Tazapay increased its revenue by 71% in the financial year ended March 2026, although its net loss widened over the same period.

The Singapore-based cross-border payments firm, which Circle agreed to acquire in September, disclosed the results in audited financial statements filed with Singapore’s Accounting and Corporate Regulatory Authority (ACRA), as reported by DealStreetAsia.

Revenue reached US$21.19 million in FY2026, compared with US$12.42 million a year earlier. Net loss widened to US$7.36 million from US$4.28 million, while loss before tax increased to US$6.97 million from US$4.12 million.

The company’s gross profit grew 77% to US$11.60 million, while cost of sales increased 64% to US$9.59 million, below the rate of revenue growth. Gross margin consequently improved to 54.8% from 52.9% in FY2025.

However, higher operating expenses offset the improvement. Operating expenses climbed 72% to US$19.52 million from US$11.33 million. Staff-related expenses, including salaries, allowances and bonuses, increased to US$7.61 million from US$4.59 million.

Share-based payment expenses also rose to US$2.48 million from US$535,732, while legal and professional fees more than tripled to US$1.85 million.

Transaction-based fees remained Tazapay’s largest revenue source, generating US$19.87 million, or nearly 94% of total revenue. Subscription revenue contributed US$612,628.

The company also recorded US$702,312 in incentive and referral income from Canada, although Singapore remained its primary revenue source.

31 million a year earlier. 85 million during the financial year, reflecting the company’s fundraising activity.



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