Buy now and pay later FinTech deferit has reportedly collected $15m in its oversubscribed Series B round, which comes after demand for its services rise by 150%.
The round was led by new investor Alceon Group and existing backer Carthona Capital, according to a report from Australian FinTech.
With the capital injection, the company hopes to increase its marketing efforts, form more partnerships and hire more staff.
This Series B round comes after a strong year of growth for the FinTech, which saw its demand rise by 150%, the report claims.
The company enables consumers to buy products and pay for them over four, interest-free instalments. Payments are made fortnightly and consumers can access up to $2,000 of credit by paying a $5.99 monthly fee.
Deferit CPO Mat Blas told Australian FinTech, “In the bill payment vertical we’re addressing a different consumer need and pain point. Consumers want and need flexibility around moving their payment dates and getting their budget on track and that’s what we’re allowing users to do: across all major billers; as any bill arrives; at the click of a button.”
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