Zūm Rails, a Montreal-based payments gateway company, has recently secured .5M CAD in Series A funding. The funding round was led by Arthur Ventures, signaling confidence in the company’s innovative approach to merging open banking with instant payments.
CEO Marc Milewski leads Zūm Rails, which offers an all-in-one payments gateway that combines open banking and instant payments. This unique multi-rail approach allows businesses and customers to choose the payment rails that best suit their needs. By integrating open banking and instant payments into a single platform, Zūm Rails streamlines the entire transaction process, from verifying customer identities to facilitating payments through various methods.
Partnering with financial titans like Visa, Mastercard, Fiserv, and MX, Zūm Rails provides a comprehensive payments solution through a single API. This collaboration enables a seamless payments journey for businesses and customers alike, catering to both traditional payment methods and real-time options.
In response to the funding news, CEO Marc Milewski expressed excitement about the future of Zūm Rails. He emphasized the company’s commitment to expanding its offerings, particularly in the realm of Banking-as-a-Service features for merchants. With Arthur Ventures’ investment, Zūm Rails is well-positioned to enhance its solution and introduce new capabilities to meet the evolving needs of the payments industry.
Overall, Zūm Rails’ strategic approach to payments innovation and partnership with industry leaders sets the company up for success in the competitive payments landscape.
