New York-based Boost Payment Solutions has completed a funding round from Mosaik Partners.
The company, founded in 2009, is a B2B payments platform that transforms manual virtual card payments into a passive and simple experience for suppliers and aiding buyers through rebates and operational efficiencies.
Boost helps corporations, institutions and municipalities optimise commercial card usage and acceptance.
Boost currently operates in in the US, Caribbean, Canada, Europe and UAE, and later this year it will launch in Australia, New Zealand, Brazil and Hong Kong, Singapore and Malaysia.
The capital raised will be used to expand growth strategies, with a focus on business development, sales, product development and support.
Boost Payment Solutions chairman and CEO Dean Leavitt said, “In a world where over half of B2B payments are still made by paper checks and the acceptance of commercial cards can be cumbersome and expensive, Boost has enjoyed meteoric growth and our partnership with Mosaik will allow us to expand that growth even further and explore various strategic initiatives.”
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