Digital payments app Mosea secures C$2.5m in seed round

• The investors in the round were not identified
• Mosea’s growth began on university campuses and later expanded to collaborations with school clubs, groups and organizations
• The financing’s proceeds will be used to fuel Mosea’s expansion and enable the introduction of its social payments app to new users across Canada

Mosea, a Toronto-based digital payments app that focuses on group payments and splitting bills, has raised C$2.5 million in seed financing.

The investors in the round were not identified.

Mosea’s platform offers features like an ability to create groups in order to split bills and create campaigns to sell tickets to an event. The startup’s growth began on Canadian university campuses and later expanded to collaborations with school clubs, groups and organizations, facilitating the payment processing for various events, membership fees and fundraising initiatives.

The financing’s proceeds will be used to fuel Mosea’s expansion and enable the introduction of its social payments app to new users across Canada.

“Social spending is antiquated in Canada from the lack of competition and innovation due to the Canadian banking monopoly,” said Luke de Haas, CEO of Mosea, in a statement. “We are one of many fintechs looking to breakthrough and provide Canadians with better options so they can realize what is out there.”