Zūm Rails Raises $10.5M As It Brings Together Open Banking and Instant Payments Capabilities in the U.S.

Feb 22, 2024•over 1 year ago

Amount Raised

$10.5 Million

Round Type

series a

Montreal

Investors

Arthur Ventures

Description

Zūm Rails, the all-in-one payments gateway that merges open banking with instant payments, announced the close of a $10.5 million CAD Series A funding round led by Arthur Ventures, a Minneapolis-based growth equity firm.

Company Information

Company

Zūm Rails

Location

Montreal, Quebec, Canada

About

Zūm Rails’ software solves the payment puzzle. Zūm sees payments as more than just moving funds faster and smarter, but rather improving the entire financial interaction between a business and its end users. Our software streamlines the onboarding process, provides advanced KYC / AML tools, moves funds in real-time, manages payment operations and simplifies reconciliation, all through a single API layer or payment portal that offers the most elegant user experience in the market.

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