Cognical, Inc. (d/b/a Zibby), a NYC-based consumer leasing platform for online, brick and mortar and omnichannel retailers, received a $100m senior secured credit facility.
Victory Park Capital (VPC), an investment firm focused on private middle market debt and equity investments, provided the financing.
The company will use the proceeds to expand its omnichannel lease-to-own payment platform for in-store and online shopping.
Led by Brandon Wright, CEO, Zibby offers its payment solution online and in-store across 46 states and is expanding its presence among retailers in the United States. Customers seeking to acquire furniture, appliances, electronics, and other consumer durables can apply directly in-store or via the Zibby button on a retailer’s website and be approved for $300 to $3,500.