-76%

est. 2Y upside i

FinTechSeries A

First financial Superapp of Latin America

Rank

#2897

Sector

Fintech

Est. Liquidity

~3Y

Data Quality

Data: Medium

Tpaga presents a moderate upside opportunity, driven by its strategic partnership with Banco Serfinanza and its dual focus on a B2C superapp and B2B FaaS.

Last updated: March 10, 2026

Bull (10%)+400%

Tpaga successfully leverages the Banco Serfinanza partnership to significantly expand its B2C superapp user base and accelerate adoption of its FaaS offerings, capturing substantial market share from less agile incumbents. This drives revenue to over $100M by 2028 and justifies a $500M+ valuation, a 5x increase from the current estimate.

Base (45%)+50%

Tpaga maintains its growth trajectory, effectively utilizing the Serfinanza partnership for moderate expansion in digital payments and embedded finance. It continues to compete in a crowded market, growing revenue to approximately $50M by 2028, leading to an acquisition or next funding round at a $150M valuation.

Bear (45%)-75%

Dominant incumbents like Nequi and Daviplata intensify their competitive efforts, eroding Tpaga's market share in the B2C segment. Regulatory hurdles or slower-than-expected adoption of FaaS limit growth, leading to a down round or acquisition at a significantly reduced valuation of $25M, wiping out most common stock value given existing liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

With an estimated current valuation of $100M and total funding of $15M, investors hold $15M in liquidation preferences ahead of common shareholders.

Dilution Risk

moderate

As a Series A company, Tpaga will likely require additional funding rounds (Series B, C, etc.) to scale, which will lead to further dilution for existing equity holders.

Secondary Liquidity

none

At this stage, there is no active secondary market for Tpaga shares, and tender offers are unlikely.

Questions to Ask at the Interview

Strategic questions based on tpaga's data — designed to show you've done your homework.

  • 1

    “How is Tpaga planning to differentiate its B2C superapp and FaaS offerings to effectively compete against the significant market share held by Nequi and Daviplata, especially given their deep integration with major banks?”

  • 2

    “With the recent strategic investment from Banco Serfinanza, what are the key performance indicators (KPIs) that Tpaga is prioritizing over the next 12-24 months to demonstrate the success of this partnership and drive towards the next funding milestone or liquidity event?”

  • 3

    “Given the company's Series A stage and the undisclosed valuation of the recent Serfinanza stake, how does Tpaga communicate the equity value and potential liquidity timeline to employees, and what are the plans for future funding rounds or secondary liquidity?”

Community

Valuation Sentiment

Our model estimates -76% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.