Buckzy Payments

Buckzy Payments Inc. is a financial technology firm established in 2018 to address inefficiencies in the cross-border payments market. The company was founded by Abdul Naushad, a seasoned fintech executive with over 25 years of experience in global payments, who previously co-founded PayCommerce. Naushad's vision for Buckzy was to create a real-time, dedicated remittance ecosystem, a direct response to his extensive research into the challenges and needs of the payments industry.

The Toronto-based company provides the underlying infrastructure for international money movement, positioning itself as a key enabler for financial institutions and fintechs. Its core business revolves around a real-time cross-border payment network, Banking-as-a-Service (BaaS), and an embedded finance platform. This model allows clients, such as banks, neobanks, and other fintechs, to integrate Buckzy's solutions into their own systems to offer modernized financial products without building the complex technology from the ground up. Revenue is generated by facilitating these transactions, which include B2B, B2C, and P2P payments, as well as global bill payments.

Buckzy's platform is distinguished by its extensive suite of over 200 APIs, which provides clients with a modular and scalable toolkit for various transaction banking scenarios. Key products include a 'Global Payout Network' that disburses funds to over 80 countries and a 'Global Payin Network' for collecting payments in local currencies. The platform also features multi-currency virtual accounts, digital ledgers, and Treasury-as-a-Service, which offers FX order management and forecasting. This infrastructure is designed to reduce transaction costs and achieve settlement times of under five minutes, operating 24/7.

Since its inception, Buckzy has achieved significant milestones, securing a $1.75 million seed round in 2019 and a subsequent $14.5 million Series A funding round in late 2022. The company has expanded its customer base from 10 in 2019 to over 160 and now covers over 100 countries, with real-time payment capabilities in 41 of them. The firm's growth has been largely organic, with 80% of its customer acquisition resulting from inbound interest.

Keywords: cross-border payments, Banking-as-a-Service, BaaS, embedded finance, fintech infrastructure, real-time payments, payment network, global remittance, API banking, treasury management, multi-currency accounts, international money transfer, B2B payments, financial technology, payment processing, fintech solutions, digital ledger, foreign exchange services, payment gateway, P2P payments