Tuza, an emerging player in the financial technology sector, has successfully raised £4 million in a seed funding round led by Connect Ventures. The company aims to disrupt the current payment processing market for small and medium-sized enterprises by providing a zero-cost price comparison service. By consolidating rates from various providers, including Worldpay, Barclaycard, and Revolut, Tuza provides immediate, transparent access to the most cost-effective payment solutions. The funding is expected to fuel growth and reach an ambitious benchmark of onboarding 100,000 merchants into their platform. The additional capital builds on a pre-seed round of £1.5 million obtained in June 2023, with notable backing from industry figures such as Charlie Songhurst, Chris Adelsbach, and Freddy Kelly. Beyond its core comparison service, Tuza also partners with well-known entities like uSwitch and Money.co.uk to extend its impact. Echoing the sentiments of Rory Stirling from Connect Ventures, Tuza’s breakthrough tackles the opaque and convoluted nature of traditional payment processing, striving to install fair pricing and plain-sailing comparisons in the business payments landscape.

Financial Technology (FinTech), Investment and Venture Capital, Small and Medium-sized Enterprises (SMEs),United Kingdom

Tuza raises £4m to compare business card payments