Zebit is a San Diego, CA-based e-commerce marketplace and custom credit provider led by President & CEO Marc Schneider. The company offers underserved consumers up to $5,000 of interest-free credit alongside a marketplace of millions of brand-name products. Zebit is building data-science-driven underwriting models at registration and at the point of sale, while developing new financing solutions. It is also expanding its e-commerce assortment to create a fully integrated e-commerce and financial brand for everyday purchases. The company intends to use newly raised capital to continue to scale and expand its reach. Zebit operates a payment platform that provides zero-percent interest credit with no fees, penalties, or credit checks, usable in the Zebit Market or at retailers that accept Zebit at checkout. Within the Zebit Market customers can finance thousands of brand-name products over time, sold at competitive retail prices and never above MSRP. The platform hosts products from brands including Panasonic, Samsung, Canon, Garmin, HP, LG Electronics, KitchenAid, Cuisinart, Hoover and Coleman. Zebit’s offering is available to participating employers with workforces ranging from 1,000 to over 100,000 employees and the company has commitments from employers representing 250,000 employees to offer the benefit in 2016; it also has a relationship with a $100 million electronics retailer. Led by co-founders Michael Thiemann (CEO) and Marc Schneider (COO), the company plans to use new capital to support receivables, operations, and expansion of its payment and e-commerce platforms. The article reports a $10m Series A raise to support those operational and growth initiatives. Zebit, operated by Global Analytics in San Diego, develops lending and underwriting software used by banks. Its products enable customers to offer short-term loans, lines of credit, and secured and unsecured credit. The company also operates a lending business in the UK and plans to expand into other markets. Zebit's software aims to bridge the gap between payday loans and traditional bank credit. Financially, Zebit last raised $25M in venture funding in May of the prior year and has now secured additional debt financing, bringing total capital raised to $95M. The company is venture-backed by Mohr Davidow, Crosslink Capital, Leapfrog Ventures, and QED Investors. Zebit is a platform-as-a-service that applies big data and Adaptive Data Fusion to underwrite financial transactions on a per-transaction basis. The platform supports end-to-end micro-lending workflows and is designed for partners such as online retailers to serve customers with limited access to credit. Zebit reports having completed over one million transactions and an initial UK launch market described as a profitable $50+ million business. The company emphasizes real-time model regeneration and transaction-level risk assessment to improve underwriting accuracy and pass savings to responsible customers. The team includes pioneers of real-time analytics and fraud detection systems (including developers of FICO’s Falcon® system). Zebit is a brand of Global Analytics Holdings and was launched in 2011.

Total raised

$140M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Oct 2018