B2B payments optimisation platform Boost Payment Solutions has closed its Series C round on $22m to bolster its presence in a number of verticals.
Invictus Growth Partners served as the lead investor, with commitments also coming from Mosaik Partners, INGWE Capital and North Atlantic Capital.
With the equity burst, the company hopes to accelerate its growth across healthcare, telecommunications, manufacturing, freight & logistics and real estate.
In line with the deal, Boost Payments has named Invictus co-founder and managing partner William Nettles as its latest board of directors member.
Boost Payment Solutions, which claims to be the sole FinTech acquirer focused exclusively on the B2B market, helps ease pain points within card use. To achieve this, it works closely with institutional and corporate buyers, suppliers, commercial card issuers and card networks.
Its technology offers a seamless and secure way for commercial trading partners to enable credit card transactions. Its Boost Intercept STP automates the entire onboarding, credit card transaction and reconciliation process for buyers and suppliers.
The FinTech claims to have processed more than $10bn in card payments for over 15,000 enterprises across five continents.
Boost founder and CEO Dean M. Leavitt said, “Boost’s unique positioning in the industry and the vast addressable market in B2B payments has led to tremendous growth that we expect will accelerate over the next several years.
“Invictus is the perfect partner for us, bringing not only capital, but also operational expertise, a broad network, and differentiated machine learning capabilities that will enhance our platforms and business. We are truly excited to have them as a partner.”
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