Sezzle, a local financial-technology startup that makes it easier for consumers to pay for online purchases in installments, announced today that its platform is now available to Canadian shoppers at thousands of online stores.
Sezzle's platform allows shoppers to divide purchases into interest-free installments that can be spread over six weeks, at no additional cost. This provides consumers a smarter, more financially-responsible way to pay for their purchases. Sezzle is currently used by more than 3,300 retailers in the U.S.
Sezzle is launching in Canada through a partnership with Italian sportswear brand Kappa.
"We wanted to make the shopping experience as easy and convenient as possible for our customers. Sezzle provides this flexibility in the buying process which is key," Puneet Girdhar, CEO of Kappa Canada, said in a release. "Our goal has always been to offer our shoppers an innovative, quality product and experience, and this partnership will help us ensure we'll continue to execute."
"We see this as a turning point for Canadian shoppers as they now have access to a new way to pay that is completely transparent and fully aligned with their financial interests," added Sezzle CEO Charlie Youakim.
This isn't Sezzle's first foray into an international market. In April, the company announced plans to debut on the Australian stock exchange. At the time, Sezzle said that it chose to file on Australia's ASX because of the presence of Melbourne-based Afterpay, its biggest competitor. The company expects to raise between $20 million to $30 million through the IPO.
The company was also attracted by Australia’s looser regulations that make filing easier for early-stage companies. There are also fewer tech companies in which to invest in Australia.
Sezzle, which had 73 employees as of April, brought in $28.3 million in sales in the first quarter, up from $1.6 million in the same period a year prior.
