#BNPL #InsurTech / Buy now, pay later and insurtech saw increase in funding

Globally “buy now, pay later” (BNPL) fintech startups raised record funding in 2020 and insurtech companies saw a big bump in fundraising in the second half of 2020. Alex Kern, intelligence analyst at CB Insights said he was surprised to see how much fundraising and deal activity was occurring in the BNPL industry because whenContinue reading “#BNPL #InsurTech / Buy now, pay later and insurtech saw increase in funding”

#BNPL / Klarna adding one million new customers each month

For the uninitiated, Klarna empowers shoppers with flexible payments solutions with retailers like Lenovo, Macy’s, Footlocker, Etsy, and thousands of other stores across multiple categories. Users can leverage buy-now-pay-later capabilities with four interest-free payments and no credit impact via the company’s instant approval process. The company also leverages a rewards points system that allows consumersContinue reading “#BNPL / Klarna adding one million new customers each month”

#BNPL / Max Levchin’s Affirm pops nearly 100% in market debut

Shares of payments company Affirm soared 98% in its initial public offering on the Nasdaq, kicking off what’s likely to be a busy season for market debuts. Founded in 2013 by PayPal co-founder Max Levchin, Affirm has become prominent in the “buy now pay later” space that offers point-of-sale loans. The company allows customers toContinue reading “#BNPL / Max Levchin’s Affirm pops nearly 100% in market debut”

#BNPL / Uplift Receives New Credit Line As It Looks To Expand

Menlo Park, California-based Uplift is a buy now, pay later platform for travel that now has raised a total of about $695 million in equity and debt since being founded in 2014. “Travel already is springing back,” said CEO Brian Barth, adding the company chose a credit line because it is capital efficient and equityContinue reading “#BNPL / Uplift Receives New Credit Line As It Looks To Expand”

#BNPL / Affirm aims for $9 billion valuation on IPO

Launched by PayPal co-founder Levchin in 2012, Affirm partners more than 6500 merchants helping them drive sales, grow average order value, and increase repurchase rates through its point of sale buy now, pay later option. About 6.2 million people use the platform, with two thirds of loans this year taken out by repeat users. TheContinue reading “#BNPL / Affirm aims for $9 billion valuation on IPO”

#BNPL / Australian Buy now, pay later provider Openpay commences US market launch

Openpay is an ASX-listed, fast-growing, and highly differentiated player in global BNPL payment solutions. It delivers the most flexible plans in the market, focuses on industries where it can make a real difference: Automotive, Healthcare, Home Improvement, Memberships, and Education; and its target customers are finance-savvy and of an older demographic who use Openpay plansContinue reading “#BNPL / Australian Buy now, pay later provider Openpay commences US market launch”

#BNPL / Affirm agrees to buy Canadian BNPL firm PayBright

American buy now, pay later credit card alternative Affirm is beefing up its presence north of the border through a C$340 million (US$264 million) deal to buy Toronto-based PayBright. Launched by PayPal co-founder Levchin in 2012, Affirm partners more than 6500 merchants helping them drive sales, grow average order value, and increase repurchase rates throughContinue reading “#BNPL / Affirm agrees to buy Canadian BNPL firm PayBright”

#BNPL / What Affirm’s IPO and Chase’s new installment product say about the BNPL market

… Affirm lets retail customers pay for their purchases using fixed payments, instead of deferred interest, hidden fees and penalties associated with credit cards. Merchants use Affirm to promote products, acquire new customers, increase revenue and glean insights on their consumers’ behaviors. Affirm now serves around 6.2 million people who have made approximately 17.3 millionContinue reading “#BNPL / What Affirm’s IPO and Chase’s new installment product say about the BNPL market”

#BNPL #WealthTech / Douugh partners with Humm Group to launch US-based BNPL product

Australian neobank, Douugh, has signed a partnership deal with Humm Group to launch a US-based buy now pay later (BNPL) product. Humm, formerly Flexigroup, will underpin the new product with the technology platform. Named “Credit Jar”, it will allow incremental payments on purchases up to $1,000. Douugh CEO, Andy Taylor, says Credit Jar is designedContinue reading “#BNPL #WealthTech / Douugh partners with Humm Group to launch US-based BNPL product”