The company is a consumer financing network that also offers 'white label' buy now, pay later services to banks and financial institutions.
ChargeAfter said its BNPL platform offers brands and retailers access to leading financing partners across the full-credit spectrum “with BNPL products such as card-based installments, split pay, long- and short-term installments, 0 percent APR financing, revolving credit, business-to-business financing, lease to own and more in a single integration.
“With the distribution of credit streamlined into a single platform, retailers can easily implement ChargeAfter’s BNPL offering both online and in-store,” ChargeAfter said, adding that its growing lender network provides seamless integration to lenders “seeking to grow their customer base while expanding into new retail markets.”
ChargeAfter is positioning itself as a solution to a BNPL landscape that has a high decline rate for consumers. Meidad Sharon, chief executive officer and founder of ChargeAfter, said as BNPL services have “exploded in popularity in recent years, the marketplace often gives consumers limited options and up to a 70 percent decline rate.
Sharon said this latest round of funding will enable the company to accelerate growth “and further diversify our global lender and merchant networks while scaling strategic partnerships by providing leading banks, lenders, financial institutions and industry partners a turnkey white label BNPL platform of their own.”
Boaz Morris, investment manager of venture capital at The Phoenix, said as consumer interest in BNPL accelerates, “it is critical for merchants, banks and financial institutions to offer tailored solutions that meet their customers’ evolving needs. ChargeAfter’s white-labeled, multilender platform represents the next generation in consumer lending and enables any business to seamlessly embed diverse credit solutions in their product offering.
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