{"id":539464,"date":"2022-09-13T11:31:37","date_gmt":"2022-09-13T10:31:37","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&#038;p=539464"},"modified":"2022-09-13T11:31:37","modified_gmt":"2022-09-13T10:31:37","slug":"splitit-completed-a-10-5m-capital-raise","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/splitit-completed-a-10-5m-capital-raise\/","title":{"rendered":"Splitit completed A $10.5m capital raise"},"content":{"rendered":"<p><a href=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/Splitit.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-534591 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/Splitit.jpg\" alt=\"Splitit, Institutional Investors, Installments-as-a-Service platform, BNPL, AOV, API, Pay-later Option, Merchant-branded Experience, One-click Installment Checkout, USA\" width=\"176\" height=\"176\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/Splitit.jpg 200w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/Splitit-150x150.jpg 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/Splitit-100x100.jpg 100w\" sizes=\"auto, (max-width: 176px) 100vw, 176px\" \/><\/a>Splitit recently announced that it had completed a\u00a0A$10.5 million\u00a0private placement with institutional investors. The company will leverage this capital to unlock the next phase of growth and expansion with large, global enterprise merchants and strategic partners.<\/p>\n<p>The capital raising brought in several new large institutional investors and current institutional investors participating. The raise also included participation from Splitit&#8217;s management team and board of directors, adding A$712,500 as a strong show of confidence in the company&#8217;s direction.<\/p>\n<p>&#8220;We are very pleased with the market&#8217;s response to our strategy, as we break away from the crowded BNPL space with our <a href=\"https:\/\/www.splitit.com\/\">Installments-as-a-Service platform<\/a>,&#8221; said <strong>Splitit<\/strong><strong>\u2019s CEO\u00a0Nandan Sheth<\/strong>. &#8220;This new investment enables us to scale our service into new underserved verticals such as education, business services and digital-native retailers. Our new model not only simplifies checkout for the consumer but also provides a consistent and simplified merchant-branded experience for our merchant partners.&#8221;<\/p>\n<p>The new capital allows Splitit to accelerate its product roadmap so platform partners can embed our service directly into their technology stack while supporting a next-generation one-click installment checkout, further simplifying the shopper experience.<\/p>\n<p>Launched in\u00a0May 2022, Splitit&#8217;s white-label Installments-as-a-Service platform eliminates unnecessary consumer friction and improves lackluster conversion numbers inherent with legacy buy now, pay later options. Splitit&#8217;s merchant-branded experience embeds into the merchant&#8217;s checkout flow to allow merchants to focus on delivering a more cohesive shopping experience.<\/p>\n<p>Splitit&#8217;s flexible platform helps merchants deliver a faster and simpler payment experience that generates incremental sales, AOV, and brand satisfaction. A single global API makes Splitit&#8217;s Installment-as-a-Service the easiest pay-later option to adopt, integrate and operate while delivering an uncluttered, simplified experience.<\/p>\n<p>Recently, <a href=\"https:\/\/ibsintelligence.com\/ibsi-news\/letus-selects-splitits-installments-as-a-service-for-the-rental-market\/\">IBS Intelligence<\/a> reported that letus had selected Splitit to bring its Installments-as-a-Service to its cloud payment platform\u00a0for the property rental market. The partnership will allow tenants to pay expenses in several interest-free installments on their credit cards.<\/p>\n","protected":false},"author":35276,"featured_media":534591,"parent":0,"template":"","categories":[11384],"tags":[30592,11797,12474,27848,21849,30593,30594,28232,14841,11416],"class_list":["post-539464","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-payments","tag-aov","tag-api","tag-bnpl","tag-installments-as-a-service-platform","tag-institutional-investors","tag-merchant-branded-experience","tag-one-click-installment-checkout","tag-pay-later-option","tag-splitit","tag-usa"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Splitit completed A $10.5m capital raise<\/title>\n<meta name=\"description\" content=\"Splitit recently announced that it had completed a\u00a0A$10.5 million\u00a0private placement with institutional investors. The company will leverage\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/splitit-completed-a-10-5m-capital-raise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Splitit completed A $10.5m capital raise\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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