Point-of-sale payment platform Loanpal nets $800m funding round

Point-of-sale payment platform Loanpal has bagged more than $800m in a funding round led by NEA and WestCap Group.

Other participants of the round include Brookfield Asset Management, Riverstone Holdings and private investors.

The company offers a POS solution that aims to help people simplify sustainable home upgrades. Its technology claims to remove barriers by offer flexible payment options and simplify the entire process of getting the improvements.

Since 2018, the FinTech claims to have provided around $5.8bn of capital for solar and other home efficiency products.

Loanpal founder, chairman and CEO Hayes Barnard said, “We are solving big world problems with industry-leading technology that makes it easier for everyone to live a more sustainable lifestyle.

“Everything on our platform is available as a convenient ‘buy now, pay later’ solution to help homeowners swiftly install smart home upgrades. The mission is to scale an easier deployment of carbon reducing products that benefit the planet, while empowering more Americans to work in mission-driven jobs.”

In line with the deal, NEA managing general partner Scott Sandell and WestCap Group managing partner Laurence Tosi will join the Loanpal board of directors.

It has been a very popular couple of months for buy now, pay later solutions, here are seven to have recently received funding.

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