What is Splitit?
Splitit addresses the complexities of legacy BNPL systems by offering a unified network API that enables businesses to integrate installment payment options seamlessly. Their platform is designed to empower merchants by providing a flexible and branded BNPL experience directly at the point of sale, thereby enhancing customer purchasing power and potentially increasing conversion rates. The company's focus on a single API aims to streamline operations for financial intermediaries within the payment ecosystem.
How much funding has Splitit raised?
Splitit has raised a total of $157.1M across 5 funding rounds:
Private Equity
$18.4M
Share Placement
$71.5M
Share Placement
$7.2M
Other Financing Round
$10M
Debt
$50M
Private Equity (2019): $18.4M with participation from Undisclosed
Share Placement (2020): $71.5M led by Undisclosed
Share Placement (2022): $7.2M, investors not publicly disclosed
Other Financing Round (2023): $10M featuring Perea Capital and Thorney Investment Group
Debt (2023): $50M backed by Motive Partners
Key Investors in Splitit
Motive Partners
Motive Partners is a private investment firm exclusively focused on financial technology, investing across early-stage ventures, growth equity, and buyouts in North America and Europe.
Perea Capital
Perea Capital LLC operates within the Venture Capital & Private Equity industry, focusing on investment opportunities.
Thorney Investment Group
Thorney Investment Group manages an ASX listed investment company focused on producing absolute returns through the careful selection of investments and acting as a constructive catalyst for value.
What's next for Splitit?
The recent major enterprise-level funding suggests Splitit is poised for significant scaling and strategic expansion. This capital injection will likely be directed towards enhancing its technology infrastructure, broadening its market reach, and forging new partnerships within the financial services and retail sectors. The company's ability to facilitate BNPL through card networks indicates a strategic move to capture a larger share of the growing installment payment market, positioning it for sustained growth and innovation in the fintech space.
See full Splitit company page
