US start-up Sezzle has secured a $100m investment from FinTech and specialty finance-focused Bastion Capital, as it plans to grow its retail payments business.
Sezzle’s payment solution offers interest-free installment plans for online shoppers, and has seen over 4,000 merchants and 200,000 shoppers sign up since its launch in 2016. The Minnesota-based company only offers its products to consumers who it believes can responsibly make purchases.
The business’ platform also includes a store directory featuring merchants. Sezzle has said that it will use the new funding to grow volume with its existing and new merchant partners.
“What impressed us most is Sezzle’s execution and sense of purpose,” said Bastion’s managing partner Jay Braden. “Despite the stresses of their tremendous growth, we still found that both their merchants and shoppers were extremely happy with their product and services.”
Earlier this year, Credit Junction bagged $23m in an investment from Century Equity Partners, coming just months after a credit facility from MidCap.
Fellow SME lending platform SimpleFinance also closed its own funding round, scoring $15m to enhance its platform and lending portfolio. The company received the funding from SBI Investments.
Copyright © 2018 FinTech Global
