Statement

Statement, which rebranded to Tuza, is a UK-based platform focused on changing payment processing for small to medium-sized businesses (SMBs). The company was founded by Ed Hardy and Liv Passey. In June 2023, while operating as Statement, the company raised £1.5 million in a pre-seed funding round led by Northzone, with participation from angel investors.

Tuza provides a free price comparison website that allows business owners to evaluate payment rates from various providers, including Worldpay, Barclaycard, and Revolut. This service aims to bring transparency to an industry often characterized by complexity and opaque pricing structures. The platform enables businesses to compare quotes for card machines, select a provider, and potentially go live within minutes, a significant reduction from the traditional ten-day process. By offering instant comparisons, Tuza helps SMBs optimize their payment processing costs, with 89% of businesses reportedly finding better rates through the platform.

The company's business model centers on its comparison tool, and it also forms partnerships with other comparison sites like uSwitch and Money.co.uk. Following its rebranding and a subsequent £4 million seed funding round led by Connect Ventures, Tuza aims to expand its reach to 100,000 merchants. This new capital is also intended for team expansion and further technical development of the platform.

Keywords: payment processing, SMB finance, card payment comparison, fintech, merchant services, business payment solutions, transparent pricing, Worldpay comparison, Barclaycard comparison, Revolut business, card machine rates, cost optimization, Tuza, Statement, Ed Hardy, Liv Passey, payment provider comparison, seed funding, venture capital, financial technology