Dean M. Leavitt, founder and CEO, Boost

Boost Payment Solutions, a provider of commercial card payment solutions, has raised $12 million in a Series B equity and venture debt funding round led by Mosaik Partners and North Atlantic Capital.

“As the only FinTech acquirer exclusively focused on B2B payments, Boost is uniquely positioned to transform how businesses pay each other around the globe,” said Dean M. Leavitt, founder and CEO, Boost. “We are honoured by Mosaik’s continued confidence in our mission and we are excited about our new partnership with NAC.”

The company aims to utilize the funds raised to enhance its market profile across multiple verticals such as healthcare, telecom, freight & logistics, media, transportation, real estate and others. It also plans to expand its operations across the USA, Canada, Europe, UAE, Australia, Brazil and partnerships with Mastercard, the Caribbean and other Latin American markets.

David Coit, founder and managing director of North Atlantic Capital, commented, “We have a long and successful history of investing in B2B payments companies and as soon as we met the Boost team and learned about their innovative approach to solving the pain points often associated with today’s electronic B2B payments, we knew we wanted to partner with the company.”

Boost, in July 2017, closed its Series A funding round led by San Francisco based Mosaik Capital.

Founded in 2009, Boost Payment Solutions is a B2B acquirer, providing solutions and technology to optimize commercial card payments and acceptance thereby facilitating seamless migration of paper-based payments.

by Megha Bhattacharya
Market Analyst at IBS Intelligence