Buckzy
Buckzy Payments Inc. is a fintech company headquartered in Toronto, Ontario, Canada. Buckzy enables a “real-time” cross border payments ecosystem for sending and receiving money instantly between bank accounts 24×7, 365 days a year with zero transaction fees. The network technology platform enables cross border money movement between banks and 3rd party wallets to enable remittance, large value payments, bill payments and P2P consumer transfers.
This real-time payments ecosystem network and technology platform enables cross-border B2C/P2P payments and global bill payments with comprehensive API’s for banks and service providers to build industry specific solutions.
Buckzy’s ability to execute payments in “real-time” is the key differentiator that they have vs any competitor in the space. Buckzy also helps improve forecasting capabilities with payment solutions including multi-currency wallets, international bill payments, foreign exchange hedging, and instant international email transfers that integrate with standard accounting systems such as SAP, Sage, and QuickBooks.
Traction
Buckzy is dedicated to building a payment network that focuses on bank to bank settlement in real-time in 34 countries and growing. Their primary target is financial institutions, as well as aggregators, that want to enable clients to utilize Bucky’s infrastructure to provide 24x7x365 real-time cross-border payments. Buckzy currently has about 25 clients utilizing their payment infrastructure, with several more large banks launching in pilot.
Team
Abdul Naushad, Chief Executive Officer
Lindsay Mulligan – Chief Marketing Officer
Umesh Umani – Head of Product and Technology
Bucky has teamed up with two investors, including Canadian-based Mistral Venture Partners and New York-based Revel Partners.
Funding
Bucky has raised $6M as of Q1 2020. They are looking to raise an additional $8-10M. This funding will enable the company to grow their global network capabilities, turn on more countries, and continue to offer innovative and diversified products and solutions. They also intend to continue to grow their product and network teams as well as expanding offices to the UK and Europe.
Revenue Model
The payment ecosystem facilitates retail and business payments for financial institutions. Their solutions include international bill pay payments, international student payments, global collections, batch payment processing, and integrated FX pricing engine, and virtual multi-currency accounts. Buckzy offers flexible partnership models, depending on the side of the bank of the financial institution to ensure long-term sustainability.
Details
For more information visit:
