What is Splitit?
Splitit operates a merchant-branded Installments-as-a-Service platform, designed to facilitate the next generation of Buy Now, Pay Later solutions. The company addresses the complexities faced by businesses with traditional BNPL models, enabling BNPL capabilities at the point of sale for card networks, issuers, and acquirers through a unified network API. This innovative approach positions Splitit as a key enabler for broader adoption of installment payment options across various financial ecosystems.
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 Thorney Investment Group and Perea Capital
Debt (2023): $50M backed by Motive Partners
Key Investors in Splitit
Motive Partners
Motive Partners is a next-generation investment firm specializing in technology-enabled companies that support the financial services industry. The firm operates as a private equity platform, combining investors, operators, and innovators to build, back, and buy companies in North America and Europe.
Thorney Investment Group
Thorney Investment Group is an ASX listed investment company which concentrates on producing absolute returns for shareholders over the medium to long term. Its primary focus is on the careful selection of investments which enable it to be a constructive catalyst towards unlocking the value in the companies that it identifies.
Perea Capital
Perea Capital LLC is a company that operates in the Venture Capital & Private Equity industry, headquartered in Houston, Texas, and focuses on investments within this sector.
What's next for Splitit?
The recent major enterprise-level funding and strategic investment signal a pivotal phase for Splitit. This capital is likely to fuel further platform development, expansion into new markets, and strategic partnerships. The company's focus on providing a flexible and integrated BNPL solution for businesses and financial institutions suggests a continued emphasis on scaling its operations and enhancing its technological infrastructure to meet growing market demand. Future growth will likely involve deepening relationships with existing partners and acquiring new enterprise clients.
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