Banks invest in BNPL ChargeAfter multi-lender platform
Citi Ventures, Banco Bradesco and MUFG have joined a $44m Series B funding round for multi-lender BNPL ChargeAfter.
The Phoenix led the round for ChargeAfter, which provides buyers with approved finance offers from dozens of global lenders through a single app. Retailers can deploy the platform both online and in-store.
The company also offers banks, acquirers, financial institutions and global strategic partners a fully white-labeled BNPL platform.
The network enables retailers and businesses to access financing partners across the credit spectrum with BNPL products such as card installments, split payment, long and short term installments, financing at 0% APR, revolving credit, B2B financing, leasing with option to buy. , and more, in a single integration.
Meidad Sharon, CEO of ChargeAfter, said, “The investment will allow us to accelerate growth and further diversify our global lender and merchant networks while developing strategic partnerships by providing leading banks, lenders, financial institutions and sector partners a turnkey white label BNPL platform. of their own.”
Carol Grunberg, global head of strategic partnerships and innovation, Treasury and Commerce Solutions at Citi, adds, “Given the growing use and popularity of Buy Now, Pay Later, a multi-lender platform that offering more flexibility at checkout is imperative to ensure customers have choice when making purchases.”