equipifi is thrilled to announce that we’ve raised $3M in Seed funding, led by New Stack Ventures and with participation from Revolution’s Rise of the Rest Seed Fund, Baleon Capital, SixThirty, PHX Ventures, SaaS Ventures, and several strategic angels.
This is a major milestone for our rapidly growing company, and a signal to the market that not only is Buy now, pay later (BNPL) here to stay, but also that financial institutions will play a key role in its democratization.
BNPL has significantly gained traction as a preferred financing option as fintechs have responded to the way more consumers prefer to shop. At equipifi, we’ve created the world’s first fully integrated BNPL solution for banking core and online banking platforms, allowing financial institutions to stay connected with their members and offer their preferred payment option where they are increasingly expecting it: while shopping.
Today, alternative BNPL solutions require circumventing the role of financial institutions in their members’ buying journey. We’re on a mission to remove the barriers that have kept industry incumbents out of the fastest growing payment offering in the world, so consumers can take advantage of their preferred financing solution from where they bank.
Our solution is simple. With equipifi, banks and credit unions can deploy their own white-labeled BNPL solution across existing digital channels with ease and confidence. How? The equipifi platform manages member eligibility, transaction eligibility, statements, marketing, and real-time dashboards for the institution to keep track of usage and engagement. Our proprietary decision engine can forecast members’ ability to repay and generate targeted offers based on spending data. The support of investors will allow us to elevate BNPL into an integrated, simple, and delightful experience, and lower the barrier to participating institutions regardless of their size and development or marketing capabilities.
A huge thank you to all of our employees, advisors, investors, and to our customers for choosing equipifi to revolutionize the way consumer financing works.