Buy now, pay later company Splitit is reportedly looking to top up its finances with a new round after Covid-19 changed consumers spending habits.
The payment instalment startup is reportedly looking to raise an additional $100m to fuel its global expansion after it noted that consumers haven’t really stopped spending during lockdown, but that they have changed it.
CEO Brad Paterson told The Sidney Morning Herald that people in Australia have stopped to put money towards travel and dining and instead spent it online and to invest in themselves and their health.
The startup has already seen institutional investors commit $90m in the first leg of the capital raise. An additional $10m will follow in the form of a share placement with current investors.
Spilit is now looking to expand into the US, Australia and the UK.
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