Growing financial-technology company Sezzle said Monday that it has lined up $100 million in debt funding that the company will use to help expand its payment platform
The fresh financing comes from several lenders, including Stamford, Conn.-based investment firm Bastion, which provides debt capital to finance companies. Bastion also borrowed $100 million to Sezzle in November 2018.
New York-based Atalaya Capital and Jersey City-based Hudson Cove Capital joined in the round.
"This substantial increase in liquidity provided by our partners will underpin Sezzle's capacity to grow its offering to consumers and thereby aggressively grow our underlying merchant sales," Sezzle CEO Charlie Youakim said in a statement.
Minneapolis-based Sezzle offers a buy-now-pay-later service that makes it easier for consumers to pay for online purchases in installments. Earlier this year, the company made its debut on the Australian stock exchange, raising about $30 million.
Around the same time, Sezzle entered the Canadian market for the first time. And last month, the fin-tech startup announced that it plans to establish a new Canadian headquarters in Toronto.
