Buckzy Payments

Canadian Cross Border Payments Innovator Buckzy Raises Series A Funding

Canadian Cross Border Payments Innovator Buckzy Raises Series A Funding
By David Penn Posted on
Categories: Alumni News, Buckzy Payments, Daily news, Funding
  • Canadian real-time cross border payments company Buckzy has raised $14.5 million in Series A funding.
  • The investment was led by Mistral Venture Partners and Uncorrelated Ventures, and featured participation from new investors Luge Capital and Blue 9 Capital, as well as existing investor Revel Partners.
  • Buckzy made its Finovate debut in 2019 at FinovateFall.

In a round led by Mistral Venture Partners and Uncorrelated Ventures, Canada-based real-time, cross border payments company Buckzy has secured $14.5 million in Series A funding. Valuation information was not immediately available. This week’s investment takes the company’s total equity funding to more than $23 million, according to Crunchbase.

“This round of financing is a validation of Buckzy’s vision to create an intelligent and automated international payment system,” Buckzy CEO Abdul Naushad said. “We’re on a mission to build the plumbing for real-time money movement globally, the same way high-speed internet fundamentally shifted the communications industry.”

New investors Luge Capital and Blue 9 Capital, and existing investor Revel Partners, also participated in the round. Luge Capital General Partner Karim Gillani will join Buckzy’s board as an advisor.

Buckzy offers real-time, cross border payments and Banking-as-a-Service capabilities via an embedded finance platform. The platform offers multi-currency bank accounts, local settlement accounts, and real-time FX quoting and booking. A licensed money transfer company, Buckzy has signed up more than 140 bank, neobank, and fintech customers since going live with its platform in 2020.

Calling the cross-border payments market a $150 trillion market globally – and one that is still underserved – Mistral Ventures Partners Managing Director Code Cubitt praised Buckzy for its ability to deliver “a much better customer experience, more automation, and lightning-fast payments.” Cubitt said the company had “the right blend of experience, expertise, and insight to build the next generation of cross border payments.”

Buckzy’s funding news comes at the same time that the company announced the appointment of Seema Rai Nair as VP of Customer Success and Network Expansion. Nair will be responsible for growing the company’s partnership network of banks, fintechs, ecommerce platforms, and other financial service providers.

“Demand for real-time and near real-time international payment services is rising around the world, and companies are increasingly turning to alternative providers such as Buckzy to address their need for fast, secure international payments,” Nair said in a statement.

Headquartered in Toronto, Ontario, Buckzy was founded in 2018. The company made its Finovate debut at FinovateFall in New York the following year.

Photo by Andre Furtado

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German Neobroker Trade Republic Earns $5 Billion Valuation; Binance Labs Secures $500 Million to Fund Web3

German Neobroker Trade Republic Earns $5 Billion Valuation; Binance Labs Secures $500 Million to Fund Web3
By David Penn Posted on
Categories: Buckzy Payments, Efigence, Finovate Global, Nubank, Temenos

European investment and savings platform Trade Republic has topped up its 2021 Series C round with an investment of €250 million led by the Ontario Teacher’s Pension Plan. The funding gives Trade Republic a valuation of more than $5 billion (€5 billion), and will enable the company to “double down” on its product.

“We are amid a transformation of pension systems in Europe,” Trade Republic co-founder Christian Hecker said. “The financing will help us to invest strongly into product innovation to empower millions of Europeans to put their money to work. Improving our valuation in the light of the current market environment is the true testament to our progress in the last twelve months and the large potential ahead.”

Trade Republic enables its more than one million European customers to invest in equities, cryptocurrencies, exchange-traded funds (ETFs), as well as fractional savings plans. With more than six billion euros in assets under management, Trade Republic offers investors the ability to invest in 9,000 stocks and ETFs; take advantage of 4,000 stock and ETF savings plans; and participate in more than 50 cryptocurrency-based savings plans. Trade Republic also provides access to 300,000 derivatives including warrant bonds, “knock-out products”, and factor certificates.

Trade Republic was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri. The company is headquartered in Berlin, Germany.

Binance Labs, the venture capital arm of international cryptocurrency exchange Binance, has raised $500 million to invest in companies that are “building Web3”. The capital comes from VC firms DST Global and Breyer Capital, and featured participation from a variety of family offices and corporations which remained unnamed.

The new fund arrives at a time when cryptocurrrency prices are in a significant retreat. Binance Labs has suggested that the current weakness in digital asset prices might provide an opportunity for investment in companies involved in everything from NFTs to blockchain infrastructure. “The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web3 across DeFi, NFTs, gaming, Metaverse, social, and more,” Binance Labs Executive Director of Investments and M&A Ken Li said.

The new fund will invest in projects in a wide range of development stages including incubation, early-stage venture, and late-stage growth. Binance Labs has invested in and incubated more than 100 projects from more than 25 countries. The firm’s portfolio includes companies such as blockchain research firm Dune Analytics, as well as blockchain networks such as Elrond, The Sandbox, and Polygon.

In other international fintech news, Canadian Finovate alum Buckzy Payments announced an expansion to the Netherlands and its plan to pursue an EMI (Electronic Money Institution) license. The company, which demoed its real-time cross border P2P payments solution at FinovateFall 2019, opened a new office in Amsterdam this summer. The firm also noted that an EMI license will enable members of the Buckzy Payment Network to leverage virtual account services and real-time payments across the Single Euro Payment Area (SEPA) of 36 European countries and territories.

“Europe is a mature, technologically advanced market that is also a hotbed of fintech innovation thanks to its adoption of open API technology,” Buckzy President and CEO Abdul Naushad said. “(This) has opened up the financial sector and created opportunities for innovative new companies to provide new products and services. More and more of our customers around the world want to send and receive real-time payments to and from Europe, and we are enabling them to do so.”

Here is our look at fintech innovation around the world.

Latin America and the Caribbean

Asia-Pacific

Sub-Saharan Africa

Central and Eastern Europe

Middle East and Northern Africa

Central and Southern Asia

Photo by energepic.com

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Cross Border Payments Infrastructure Innovator Buckzy Payments Inks Partnership with M2P Solutions

Cross Border Payments Infrastructure Innovator Buckzy Payments Inks Partnership with M2P Solutions
By David Penn Posted on
Categories: Alumni News, Alumni profile, Buckzy Payments, Daily news

Asia’s largest API infrastructure company, M2P Solutions, will leverage the real-time, cross border payments ecosystem developed by Buckzy Payments to enable its customers to offer better payment services in many of the more underserved corridors in the MENA region. Clients such as banks, exchanges, and money transfer operators (MTOs) will be the partnership’s chief beneficiaries; targeted markets include the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman.

“We are clearly aligned in our mission to improve global banking and transaction settlement services that unlock the borderless banking and global economic opportunities for all,” Managing Director for Buckzy in EMEA Adrian Brown said. “Combining Buckzy’s network with M2P’s API platform delivers an outstanding customer experience and competitive advantage for customers.”

Buckzy’s network enables real-time, cross border payments around the world. The company’s technology gives both businesses and financial institutions the ability to expand their offerings via white-label solutions on a secure platform. Moreover, Buckzy’s ecosystem also empowers these organizations to make collections and receive payments in local currency. Headquartered in Toronto, Ontario, Canada and founded in 2018, Buckzy demonstrated its solution one year later at FinovateFall. At the conference, Buckzy Global CMO Lindsay Mulligan showed how the company’s technology powered instant, on-the-go digital wallet transfers and top ups, as well as multi-currency transfers and instant email money transfers with just a few clicks and without transaction fees.

Business Head of M2P Solutions for MENA, Vaanathi Mohanakrishnan, underscored the importance to the company of opening up these regional opportunities. “A lot of M2P’s strategy hinges on enabling fintechs to deliver solutions leveraging our infrastructure and partner network,” Mohanakrishnan explained. “We are excited to be partnering with Buckzy to deliver frictionless cross border payment experiences to customers in the MENA region.”

Delivering real-time cross-border payments to 47 countries, Buckzy Payments was recently named to the CIX Top 20 Early roster of innovative Canadian technology companies. With offices in the U.S. and India, as well as Toronto, the company has raised $3 million in funding from investors including Dash40 Ventures, Mistral Venture Partners, and Revel Partners.

Photo by Louise Brawn from Pexels

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FinovateFall Sneak Peek: Buckzy Payments

FinovateFall Sneak Peek: Buckzy Payments
By David Penn Posted on
Categories: Buckzy Payments, FinovateFall 2019, FinovateFall 2019 Sneak Peek

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

Buckzy is an enabler of banks and financial institutions. The company is fundamentally transforming the way people move money around the world with its real-time cross-border payments ecosystem.

Features

  • Real-time cross-border payments ecosystem
  • Availability 365 days a year
  • 24/7 access even inside of traditional banking hours and holidays

Why it’s great
Cross-border P2P payments, bill payments, global trade payments, and international student payments can now be settled in real-time with 365 days, 24×7 accessibility to funds.

Presenter

Lindsay Mulligan, Global Chief Marketing Officer
Mulligan is a global marketer, innovator, and digital martech strategist with over 12 years of experience in marketing multinational brands on a global scale for both B2B and B2C initiatives.
LinkedIn

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Finovate Alumni News

By David Penn Posted on
Categories: Buckzy Payments, CheckAlt, iProov, Meniga, MX, myGini, Mylife, NICE Systems, Ninth Wave, NYMBUS, Onfido, Revolut, Scalable Capital, Tradeshift, UBDI, Zogo Finance

On Finovate.com

Around the web

  • Nice Actimize introduces surveillance system, SURVEIL-X.
  • Scalable Capital teams up with Raisin to offer its customers the ability to invest in fixed-term deposits at partner Baader Bank.
  • Standard and Premium customers of Revolut in 26 markets now have access to stock trading via the platform.
  • Financial Times highlights Meniga as a fintech to watch. Come see Meniga’s live demo at FinovateFall next week in New York!
  • NYMBUS appoints Dr. Joerg Richter as its new Chief Operating Officer, Platforms. NYMBUS will showcase its newest technology at FinovateFall next week in New York!
  • Tradeshift to help Spendency app users leverage their transaction data.
  • iProov releases HTML v.2 Beta on GitHub to help users secure user identity in HTML5.
  • Onfido earns the top spot in FinTechCity’s 2019 Fintech 50 roster.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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