Blispay secures $12m for POS finance card

US credit card company Blispay has received $12m in its latest funding round.

The transaction saw several return investors including FirstMark, Accomplice and NEA, as well as its first contributions from Camden Partners and F-Prime Capital.

Blispay is a point-of-sale finance provider which offers no additional costs for merchants and has no interest on payments over $199 that are paid in full in six months.

The company counts more than 500 retailers as clients, with more than 100,000 transactions completed in 50,000 unique locations across the US.

Through the investment the company hopes to increase its merchant network and boost consumer use.

Blispay founder and CEO Greg Lisiewski said, “We are offering real and immediate benefits to both merchants and consumers that promise to have a real economic impact on retail businesses.

“For the first time, retailers of any size can offer financing to their customers across any channel and these shoppers can finance their purchases wherever they want to make a purchase.”

Following the deal, Bill Me Latter co-founder and Camden Partners general partner Vince Talbert will join Blispay’s board of directors.

Copyright © 2017 FINTECH GLOBAL

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