Mistral Venture Partners and Uncorrelated Ventures led the round in the Toronto-based company, with participation from new investors Luge Capital and Blue 9 Capital and existing investors Revel Partners. Buckzy plans to use the funding to enter new markets and expand its products. (The Logic)

Talking point: Buckzy helps businesses speed up the process of making international payments, normally a slow and cumbersome ordeal. The firm uses liquidity partners in various countries that move money out of their accounts when a payment is processed, along with the technological payments infrastructure available there. In countries with real-time rail payment systems, founder and CEO Abdul Naushad said, Buckzy can process payments in 20 to 30 seconds. In countries where that technology isn’t available—like Canada—it takes slightly longer, but still works much faster than traditional methods, Naushad said. He said the company hopes to use the funding to expand into Australia, Singapore and the European Union—“We are looking to go in full throttle.”