Tuza, a platform revolutionising payment processing for small-to-medium-sized businesses, has secured £4 million in a seed funding round.
The round was led by Connect Ventures, with investment from Northzone, Triple Point and Entrepreneur First.
At the core of Tuza’s mission to empower businesses is a zero-cost price comparison website. Its platform enables business owners to quickly assess payment rates from providers such as Worldpay, Barclaycard and Revolut, empowering them to make informed decisions and optimise their payment processing costs.
With this latest injection of seed funding, Tuza is primed to accelerate its growth, targeting the goal of reaching 100,000 merchants on the platform.
“Our latest round of investment underscores the urgency of our mission,” said Ed Hardy, CEO and co-founder. “Businesses shouldn’t bear high costs due to a lack of understanding about where or how to find better deals.
“Our platform provides instant, transparent access to the best solutions for each business. It not only saves time, but also introduces a level of pricing fairness previously unseen in the industry.”
Rory Stirling at Connect Ventures said: “Tuza’s transformative approach not only streamlines the complexities of payment processing but also empowers UK businesses with unprecedented transparency and control.
“Finally the days of opaque pricing structures and painstaking comparisons are a thing of the past, marking a significant leap forward for the industry. Tuza levels the playing field of payments processing.”
As well as operating its own comparison site, Tuza also collaborates with partners such as uSwitch and Money.co.uk.
This round of funding follows on from pre-seed funding of £1.5 million in June 2023, which saw participation from notable angel investors including Charlie Songhurst, Chris Adelsbach and Freddy Kelly, the mind behind CreditKudos (acquired by Apple) and TinyVC.