Zūm Rails, an embedded payments and financial infrastructure platform, plans to raise a Series B financing round of approximately USD 50m in the first half of 2027 to accelerate growth, particularly in the US, CEO Miles Schwartz said.

The company may hire an advisor to run the process, Schwartz added.

Zūm moved its headquarters from Montreal to Miami in September 2024. The US is expected to contribute 30%-40% of revenue by the end of next year and more than 60% in 2028, according to Schwartz.

The company has doubled annual recurring revenue (ARR) over the past year to more than USD 20m, according to Schwartz. The debt-free business became EBITDA positive earlier this year, with its bottom line improving each month, he added.

Schwartz said Zūm projects ARR of USD 40m to USD 50m within the next 12 to 18 months and USD 60m to USD 100m in roughly 24 months.

Over the past year, Zūm has expanded from an all-in-one payments platform focused on open banking, instant payments, and account-to-account money movement into a broader embedded finance platform that also includes card issuance, know-your-customer, and card acceptance capabilities.

The company specializes in more complex account-to-account payments and serves north of 600 mid-sized and large customers, including Western Union, Desjardins, and Deloitte.

In August 2025, Zūm launched Mastercard-powered prepaid card programs in Canada. That business is already generating well into the seven figures of ARR, according to Schwartz, with US expansion planned for early 2027.

In February, Zūm became a payments facilitator through Fiserv and launched embedded credit card acceptance across the US and Canada. Early adopters include Questrade and Zolo.

Schwartz, who told this news service in June 2025 that Zūm expected to raise capital in 2026, co-founded the business with Chief Technology Officer Marcel Ferreira and Marc Milewski. The three own a combined majority ownership stake.

Zūm raised USD 10.5m in a Series A financing led by Arthur Ventures in early 2024. The company has no plans to proactively pursue an exit in the near term, according to Schwartz.

Schwartz previously served as partner and chief sales officer at Montreal-based financial data connectivity provider Flinks, which competes with Zūm in the data aggregation space alongside Plaid. Repay and Modern Treasury compete in payments, Stripe in credit cards, and Synctera and Marqeta in prepaid cards, Schwartz said.

Recent sector activity highlights continued convergence between traditional payments infrastructure and stablecoin capabilities, according to the CEO. In 2025, Global Payments acquired Worldpay in a USD 24.25bn transaction while selling Issuer Solutions to FIS for USD 13.5bn, and Modern Treasury acquired Beam. In 2026, Mastercard agreed to acquire BVNK for up to USD 1.8bn, while a consortium including Visa, Mastercard, and Coinbase launched a joint stablecoin to broaden adoption of digital tokens.

Zūm has approximately 85 employees, Schwartz said. It sells primarily through channel partners.

The company uses the law firm Osler and the accounting firm Crowe.