What is Splitit?
Splitit operates at the intersection of retail commerce and financial technology, offering a sophisticated Installments-as-a-Service platform. Unlike legacy BNPL providers that often disrupt the merchant-customer relationship, Splitit empowers merchants to offer flexible payment options directly at the point of sale. By leveraging existing card networks, the company eliminates the friction associated with new credit applications, allowing issuers and acquirers to integrate seamless installment capabilities via a single, robust network API. This B2B2C model positions Splitit as a foundational layer in the modern digital payments ecosystem, effectively bridging the gap between traditional credit card utility and the growing consumer demand for flexible, interest-free payment structures.
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 and technology-enabled business services, investing across early-stage ventures, growth equity, and buyouts.
Perea Capital
Perea Capital LLC is a specialized investment firm operating within the venture capital and private equity sectors, focusing on high-growth potential opportunities.
Thorney Investment Group
Thorney Investment Group is an investment management firm that concentrates on producing absolute returns through the careful selection of investments and active portfolio management.
What's next for Splitit?
With the successful closure of this major enterprise-level funding, Splitit is well-positioned to accelerate its product roadmap and expand its footprint within the global payments infrastructure. The strategic focus will likely center on deepening integrations with major card networks and enhancing the scalability of its API-first architecture. As the BNPL market matures, Splitit's ability to provide a white-label, merchant-branded experience offers a significant competitive advantage, particularly as traditional financial institutions seek to modernize their credit offerings. The company is expected to leverage this capital to strengthen its market presence in North America and Europe, while continuing to refine its technology to meet the evolving demands of acquirers and issuers worldwide.
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