US-based card optimisation company Boost Payment Solutions has raised $12m in a Series B equity and venture debt round.
The round was led by Mosaik Partners and North Atlantic Capital.
Boost intends to use the money to expand its profile in healthcare, freight & logistics, telecom, transportation and media verticals, both locally and internationally.
Funds will also be used by the company to increase its marketing and business development teams in the US as well overseas.
Apart from the US, Boost currently has presence in, Europe, Canada, Australia, UAE and Brazil.
In the Caribbean and Latin American markets, it operates in partnership with Mastercard.
Boost CEO and founder M. Leavitt said: “As the only fintech acquirer exclusively focused on B2B payments, Boost is uniquely positioned to transform how businesses pay each other around the globe.
“We are honored by Mosaik’s continued confidence in our mission and we are excited about our new partnership with NAC.”
Mosaik Partners managing partner Howard Mergelkamp said: “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.”
Founded in 2009, Boost delivers technology platform that optimises commercial cards and make them scalable and more secure.