Boost Payment Solutions, Inc., a New York-based FinTech company enabling B2B payments, closed a round of funding from San Francisco-based Mosaik Partners.
The amount of the deal was not disclosed.
The company will use the proceeds to expand its organic growth strategies across all functional areas with a focus on business development, sales, product development and support.
Founded in 2009 by Dean M. Leavitt, Boost provides corporations, institutions and municipalities with technology-enabled solutions to optimize commercial card usage and acceptance, making the migration of paper checks to electronic payments quick and easy for all stakeholders.
Boost Intercept, the company’s proprietary B2B gateway platform, transforms manual virtual card payments into a straight-through processed experience for suppliers, while also benefitting buyers through rebates and operational efficiencies.
B2B-specific reporting capabilities allow enterprises that accept commercial card payments from corporate customers to integrate remittance data into their own ERP platforms.
Boost is currently operational in the U.S., Caribbean, Canada, Europe and UAE and will be launching in Australia/New Zealand, Brazil and Hong Kong/Singapore/Malaysia later this year.