Boost Payment Solutions, a New York, NY-based fintech firm that specializes in B2B payments, as per recent reports, has raised $12 million in Series B equity and venture debt funding round. The funding round was led by Mosaik Partners, a San Francisco, CA-based venture capital firm; and North Atlantic Capital, a Portland, ME-based growth capital firm.
The NY-based firm says that it’ll be utilizing this new investment fund in expanding its domestic and international profile across multiple verticals, such as healthcare, telecom, freight and logistics, media, transportation, real estate, and others.
Speaking on this context, Howard Mergelkamp, a managing partner at Mosaik Partners, says, “The explosive growth Boost has enjoyed since our initial investment in 2017 has been remarkable. The senior management team’s vision for commercial payments, coupled with its proprietary technology and positioning in the domestic and international B2B markets, will continue to pay dividends”.
Boost, which already has established operations in Canada, Europe, UAE, Australia, Brazil, and through its Mastercard partnership, the Caribbean and other Latin American markets, plans to further expand its domain, venturing deep into business markets in the US and abroad, to expand its marketing, product, support and business development teams portfolios.
Golding and Company, serving as Boost’s strategic and financial advisor, helped them in this recent transaction.