Last deal

Amount

Seed

Stage

01.12.2023

Date

4

all rounds

$292.1K

Total amount

General

About Company
Torus is a SaaS analytical product that helps banks and payment service providers manage and optimize costs on card scheme fees.

Industry

Sector :

Subsector :

Keywords :

Also Known As

Torus Advisors

founded date

01.06.2020

Number of employees

Company Type

For Profit

Last funding type

Seed

IPO status

Private

Description

The company was founded by ex-Mastercard executives to address the challenge of understanding and analyzing fees from payment schemes like Visa and Mastercard, which often results in overpaying fees. Torus' cloud-based analytical product enables banks and payment service providers to analyze their fees in a more granular way, reconcile and forecast them, and save up to 20% of costs. The predictive analytics tool automatically analyzes the bank's income and costs derived from interaction with card schemes and assists banks in cost optimization. Torus' model can allocate payment system fees down to a single card transaction level and identify areas for improvement, resulting in potential cost reductions of 5-10% within 3-6 months.
Contacts