Buy Now, Pay Later platform Splitit has raised $71.5mn through private placement and share purchase.
In Brief:
-
Splitit is listed on the Australian stock exchange.
-
It allows shoppers to pay for their items in instalments on a credit card.
-
Investors include Woodson Capital Management.
What does this mean?
Splitit has experienced huge growth as the buy now, pay later market continues to soar. Sales were up 260% year on year and it’s now used by over 1000 ecommerce merchants. The platform has partnerships with Mastercard, Visa and Stripe and is currently growing internationally.
