One stop, zero-cost price comparison service allows 1.5 million SMBs accepting payments in person to instantly compare rates from top payment providersTuza’s pricing technology enables banks to deliver bespoke rates online, combatting inertia in a £205 billion market, where 92% of SMBs stay with one payment provider for more than a yearAfter comparing £1.5 billion in card turnover for small businesses since launching in September 2023, Tuza raises £4m to accelerate growth in the UK marketConnect Ventures led the seed funding round, with investment from Northzone, Triple Point and Entrepreneur First2 May 2024: Tuza, the UK platform revolutionising payment processing for small to medium-sized businesses (SMBs), has successfully secured £4 million in a Seed funding round led by Connect Ventures, with investment from Northzone, Triple Point, and Entrepreneur First.In an industry known for its complexity and lack of transparency, it’s challenging for SMBs to choose the right payment processing option to meet their needs. Recent research from Tuza underscores the problem: out of 1.5 million SMBs using card payments:92% of merchants stick with the same provider for over a year, missing out on significant savings as a consequenceFor example, a typical corner shop could enjoy annual savings of up to £5,400 by switching payment providers66% of merchants are unaware of how much they’re paying in transaction fees or the possibility of better deals elsewhere93% still acquire their payment provider service through a slow, manual processAt the core of Tuza’s mission to empower businesses is a zero-cost price comparison website. Its user-friendly platform enables business owners to easily and quickly assess payment rates from top 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. This investment will also support the expansion of Tuza’s talented team, as well as further technical development.Ed Hardy, CEO and co-founder of Tuza, said: “Our latest round of investment underscores the urgency of our mission. 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

In recent years, the United Kingdom has solidified its position as one of the world’s premier destinations for startup innovation and investment. Fueled by a combination of factors including top-tier education institutions, a dynamic job market, and favourable regulatory conditions, the UK startup ecosystem has experienced exponential growth, propelling it to the forefront of global entrepreneurship. According to Dealroom in 2023, the UK startup ecosystem has reached a staggering valuation of over €900 billion, positioning it as the third most valuable ecosystem worldwide, trailing only the giants of the United States and China. London, in particular, has emerged as a powerhouse within the UK startup landscape, serving as a magnet for both startups and venture capital. With over €19 billion in venture capital investments pouring into the city, London stands as one of the top global hubs for entrepreneurial activity. In terms of venture capital funding, the UK’s top-performing industries in 2023 were energy, fintech, and health