Tymit launched in late 2019 and targets the credit-card and BNPL space with an app-based product that lets cardholders separate everyday transactions from big-ticket items and choose instalment plans for purchases. The product removes revolving balances and minimum payments, aiming to give customers transparency and control over repayments. Tymit says it can save borrowers money compared with traditional credit cards and combines payments with lending to generate revenue. The company plans to accelerate product development and roll out a B2B2C instalment programme that offers BNPL under merchants’ own brands for free. It also intends to provide merchants with data-driven insights and loyalty tools to strengthen customer relationships. Tymit aims to make money from lending, interchange fees, and late fees; its CFO expressed optimism but the article notes the BNPL sector and UK economy make further funding rounds possible.

Total raised

$26M

Funding rounds

1

Latest round

Series A

Latest activity

Oct 2022