Sezzle, a Minneapolis, MN-based financial technology company offering interest-free installment plans for online shoppers, raised $100m in funding.
Bastion Capital made the investment.
The company intends to use the funds to grow its retail payments business with existing and new merchant partners.
Founded in 2016 Charlie Youakim, CEO, Paul Paradis, COO/CRO, Sezzle provides a payment platform for consumers to gain access to additional purchasing power via interest-free installment plans by leveraging a proprietary underwriting model when making credit decisions.
The company does not charge consumers interest and only offers its product to consumers who it believes can responsibly make the purchase. The Sezzle technology increases the purchasing power of young ‘prime-to-be’ shoppers who otherwise may not have been able to afford to pay the full price of a purchase all at once.
First-time shoppers can quickly sign up during a checkout, and repeat customers have a one-click-to-buy experience.