Splitit offers a buy-now-pay-later solution that enables customers to pay in installments via their existing credit cards. The company plans to use a $50 million investment to accelerate growth and execute its strategic plan, including expanding its white-label product strategy and global distribution partnerships. Splitit has applied for voluntary delisting from the Australian Securities Exchange and intends to change its domicile from Israel to the Cayman Islands as part of a re-domiciliation to a privately held Cayman Islands company. Management expects the re-domiciliation to yield lower administrative costs, a more flexible operating environment, improved talent retention, and better prospects for accessing growth capital. CEO Nandan Sheth (named in 2022) and the board say the investment strengthens the balance sheet and supports product and technology development. The company also noted a prior BNPL strategic global partnership earlier this year and said it is on track to exceed its 2023 financial performance milestones tied to the financing. Splitit provides a white-label Instalments-as-a-Service platform designed to let merchants offer one-click installment checkout and reduce consumer friction compared with legacy BNPL options. The company launched this white-label platform in May to allow merchants to embed Splitit directly into their technology stacks. Management says the product aims to improve conversion and deliver a consistent, merchant-branded checkout experience. Splitit plans to scale the service into underserved verticals including education, business services and digital-native retailers. The company is listed as ASX:SPT and OTCQX:SPTTY and said the new funding will accelerate its product roadmap. Splitit is headquartered in Atlanta with an R&D center in Israel and additional offices in London and Australia. PayItSimple is a NYC-based provider of a patented, PCI-compliant payment solution that enables merchants to offer customers interest-free installment payments. The technology integrates with VISA and MasterCard and allows merchants to receive the full purchase amount upfront while consumers pay over time. The company is led by CEO Alon Feit. PayItSimple secured $10M in funding from Simpel Management, LLC. The company intends to use the funds to grow operations. The product emphasizes PCI compliance and payment security for merchants and consumers.

Total raised

$77M

Funding rounds

4

Latest round

Equity

Latest activity

Aug 2023