What is Nelo?
Nelo operates as a crucial intermediary in the online retail ecosystem, enabling customers to make purchases from any online merchant and pay in installments. By extending credit, Nelo empowers consumers to manage their budgets more effectively while simultaneously boosting conversion rates for e-commerce businesses. The company's model is designed to be merchant-agnostic, offering a flexible payment option across a wide spectrum of online retailers.
How much funding has Nelo raised?
Nelo has raised a total of $120M across 2 funding rounds:
Series A
$20M
Debt
$100M
Series A (2021): $20M with participation from Homebrew, Susa Ventures, Two Sigma Ventures, and Crossbeam
Debt (2022): $100M led by Victory Park Capital
Key Investors in Nelo
Victory Park Capital
Victory Park Capital Advisors, LLC (VPC) is an investment firm that provides capital to emerging and established companies worldwide. The company specializes in serving businesses that are unable to access traditional funding sources.
Susa Ventures
Susa Ventures is an early-stage venture capital firm that invests in seed-stage startups, aiming to help build the next billion-dollar companies. Since its inception in 2013, the firm has partnered with over 100 startups, with 10% achieving unicorn status.
Two Sigma Ventures
Two Sigma Ventures is an early-stage venture capital firm that invests in transformative companies leveraging information growth and computing power. The firm focuses on technology that enhances human potential, breakthrough therapies, artificial intelligence, and online safety for children.
What's next for Nelo?
With a significant enterprise-level funding context and a recent strategic investment, Nelo is poised for accelerated expansion. The company is likely to focus on scaling its operations, enhancing its technology platform, and forging new partnerships with online merchants. This capital infusion will be instrumental in solidifying Nelo's position in the competitive buy-now-pay-later (BNPL) market, potentially exploring new credit products and expanding into additional geographic regions. The strategic nature of the recent investment suggests a focus on synergistic growth and market penetration.
See full Nelo company page
