TORONTO, April 9, 2019 /CNW/ - In a world where technology has improved every industry and added convenience in all sectors, the international payments space is finally getting a 21st century solution, with Buckzy Payments Inc., a Canadian Fintech company located in Toronto, closing a $1.75 million seed round led by Canada based Mistral Venture Partners and joined by New York based Revel Partners. The raise will be used to scale Buckzy's real-time global payments network.
"High currency exchange rates, limited visibility and slow transfer times have long posed serious challenges to businesses and individuals resulting in expensive and slow global money transfers. Buckzy has overcome these hurdles enabling a modern remittance solution," said Code Cubitt, Managing Director, Mistral Venture Partners. "We are excited to be teaming with Buckzy to further develop this important area of international finance."
Buckzy facilitates international payments, with funds reaching the recipient in under five minutes, and is available 24x7, 365 days a year. Today, sending money to a recipient in another country involves time consuming visits to a financial institution, significant paperwork, and days, or even weeks, for the money to arrive at its destination.
"Until now, in some cases it has taken longer for payments to arrive overseas than the merchandise being paid for, and this seems archaic in the digital world that we live in today," said Joe Apprendi, General Partner, Revel Partners. "Buckzy represents a long-overdue solution to the international payments framework, and we knew that we needed to be a part of it."
"Buckzy is leading a global change in cross border payments by changing the way businesses and consumers move money around the world," said Abdul Naushad, CEO & Founder of Buckzy. "We are delighted to be partnering with Mistral and Revel to support Buckzy in becoming a leader in the global payments sector."
For more information, visit buckzy.net.
About Buckzy Payments Inc.
Buckzy Payments Inc. is a fintech company headquartered in Toronto, Ontario, Canada. Buckzy enables a "real-time" cross border payments ecosystem for sending and receiving money instantly between bank accounts 24x7, 365 days a year with zero transaction fees. The network technology platform enables cross border money movement between banks and 3rd party wallets to enable global remittance, bill payments and B2B Commerce payments.
This real-time payments ecosystem network and technology platform enables cross-border B2B/B2C/P2P payments, global bill payments and eCommerce payments with comprehensive API's for banks and service providers to build industry specific solutions.
About Mistral Venture Partners
Mistral Venture Partners, with headquarters in Ottawa Canada, and additional offices in California, is typically the first institutional seed investor in a company. Our goal is to help position our companies for the next stage of fundraising by working closely with the team to help them grow from early traction to predictable growth.
About Revel Partners
Revel Partners is an early-stage venture capital firm focused on B2B SaaS and marketplaces. We leverage our successful entrepreneurial heritage, our global network and our business acumen to help our portfolio companies grow their businesses to unparalleled differentiation and scale.
SOURCE Buckzy Payments Inc.
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