B2B payments company Boost raises $22m

B2B focused payments company Boost Payment Solutions has closed a $22 million Series C funding round led by Invictus Growth Partners.

Boost, which offers solutions which help B2B payments players improve commercial card use and acceptance, claims to have processed over $10 billion in card payments for over 15,000 enterprises.

The New York based company said the proceeds will be used to accelerate the company's global growth across healthcare, telecommunications, manufacturing, freight and logistics, and real estate.
Existing investors including Mosaik Partners, INGWE Capital, and North Atlantic Capital also took part in the round.

William Nettles, co-founder and managing partner at Invictus, is set to join Boost’s board of directors.

“B2B card payments provide many benefits for enterprises and this is one of the most attractive and fastest growing segments within FinTech,” said Nettles. “Dean and his leadership team have created a world class global organization that is built to scale and lead the space.”

He added: “We are honored to partner with Boost and look forward to working with them in a collective effort to achieve their mission.”

“Boost’s unique positioning in the industry and the vast addressable market in B2B payments has led to tremendous growth that we expect will accelerate over the next several years,” said Dean M. Leavitt, founder and chief executive at Boost. “Invictus is the perfect partner for us, bringing not only capital, but also operational expertise, a broad network, and differentiated machine learning capabilities that will enhance our platforms and business."

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