ChargeAfter, a buy now pay later solution, has collected $44m in its Series B funding round.
The Phoenix served as the lead investor, with commitments also coming from Citi Ventures, Banco Bradesco, MUFG, as well as existing backers.
With the capital, the company plans to grow and diversify its global lender and merchant networks, whilst scaling strategic partnerships with banks, financial institutions and industry partners.
ChargeAfter is a BNPL consumer financing network that provides shoppers with responsible, approved financing offers from multiple lenders through a single application.
With dozens of pre-integrated global financing lenders and banks on the platform, ChargeAfter offers shoppers approved and personalised consumer financing from multiple lenders.
Retailers can easily implement the BNPL solution both online and in-store.
The company also provides global banks, acquirers, financial institutions and strategic partners with a fully branded, white-label BNPL platform. Its technology supports card-based instalments, split pay, long and short-term instalments, 0% APR financing, revolving credit, B2B financing, lease to own and more.
ChargeAfter CEO and founder Meidad Sharon said, “While BNPL has exploded in popularity in recent years, the marketplace often gives consumers limited options and up to a 70% decline rate.
“Investor interest in ChargeAfter is a testament to the growing need for a network-driven financing platform made for merchants, banks, and financial institutions, as the industry rapidly shifts from a single lender, low-approval reality to a multi-lender experience where responsible lending and approvals rates upwards of 85% or more are the new norm,”
The FinTech company previously formed a strategic partnership with Visa.
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