What is Purchasing Power?
Established in 2001, Purchasing Power operates as a specialized fintech platform that facilitates pay-over-time purchase programs. By integrating directly into employee benefit structures, the company provides a responsible mechanism for individuals to acquire essential goods and services. Beyond its core transactional capabilities, the firm distinguishes itself by offering comprehensive financial health resources, aiming to bridge the gap between immediate consumer needs and long-term fiscal stability. Its market position is defined by a unique intersection of retail commerce and accessible credit, serving as a critical intermediary for workforce financial wellness.
How much funding has Purchasing Power raised?
Purchasing Power has raised a total of $120M across 1 funding round:
Debt
$120M
Debt (2022): $120M with participation from Comvest Credit Partners
Key Investors in Purchasing Power
Comvest Credit Partners
A private investment firm providing flexible financing solutions to middle-market companies, specializing in debt and equity capital for growth and operational scaling.
What's next for Purchasing Power?
The recent deployment of capital signals a strategic pivot toward expanding the company's reach within the enterprise sector. By leveraging this debt financing, Purchasing Power is well-positioned to enhance its technological infrastructure and broaden its suite of financial wellness tools. Future growth will likely focus on deepening institutional partnerships and refining its credit risk assessment algorithms to better serve a diverse workforce. As the company matures, the emphasis will remain on balancing aggressive market penetration with the maintenance of its core mission: providing equitable access to financial products that improve the quality of life for its user base.
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