London-based Tuza, formerly known as Statement, recently secured 4 million pounds (about $5 million) in seed funding for its platform that offers price comparison services for card payments in the United Kingdom. The company has already compared 1.5 billion pounds (about $1.9 billion) in card turnover for small businesses since its launch in September. This platform aims to assist businesses in saving both time and money.
The seed funding round was led by Connect Ventures, Northzone, Entrepreneur First, Triple Point, and a group of angel investors who are excited to support the company as it brings transparency to the payments industry. Tuza allows small and medium-sized businesses to compare instant quotes, select a card machine, and go live when they are ready. The company states that 89% of businesses that search for a new card machine find better rates through their platform.
This seed funding comes after Tuza raised 1.5 million pounds (about $1.9 million) in a pre-seed funding round led by Northzone. The founders of Tuza, Chief Technology Officer Olivia Stannah and CEO Ed Hardy, have been working hard to bring comparison to payments. Hardy stated that accepting card payments is still a painful process for small businesses, as it typically takes around 10 days to find the right payments provider. Tuza aims to reduce this time to just a few minutes, making the process easier and more efficient for SMBs in the UK.
Tuza’s unique approach to comparing card payment providers has caught the attention of investors who see great potential in this space. With this new funding, Tuza plans to accelerate its growth in the UK and continue providing value to small and medium-sized businesses looking for transparent pricing options for their card payment needs.
Overall, Tuza’s success is a testament to how technology can simplify complex processes like finding the best deal on card payments