Zūm Rails provides an all-in-one payments gateway that integrates open banking and instant payments into a single omni-rail solution, supporting credit, debit, EFT and real-time rails through partners such as Visa Direct, Mastercard, MX and Canada’s Interac. The platform handles the end-to-end transaction journey, including identity verification, direct bank linking to reduce fraud and failed transactions, and facilitation of payments via customers' preferred methods. Since founding in 2019 the company has self-funded to profitability and now processes more than $1 billion in payments per month for clients including Questrade, Coinsquare and Desjardins. Zūm Rails works with financial services providers like Fiserv to expand access to open banking and FDIC-insured real-time payments in the U.S. The company plans to use the new funding to further expand its payments offerings, add Banking-as-a-Service features for merchants, and launch a forthcoming FedNow offering. Headquartered in Montreal, Zūm Rails is positioning to scale its presence across North America.

Total raised

$8M

Funding rounds

1

Latest round

Series A

Latest activity

Feb 2024