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Wisetack Secures $45 Million to Accelerate BNPL for In-Person Services
With Wisetack, in-person businesses can offer financing to consumers in minutes, while consumers can pay overtime for purchases without surprises or unexpected fees.
FREMONT, CA: Wisetack, a technology company that brings buy now, pay later to in-person services like home and auto repair, raised $45M in Series B round of financing led by New York-based global private equity and venture capital firm Insight Partners, with existing investors Greylock Partners and Bain Capital Ventures, among others, also participating in the round.
This brings the total amount raised by the company to $64M since the company's founding in 2018. The company will use the investment to accelerate the strong growth it has seen to date, including supporting further expansion into verticals such as auto repair, elective medical, dental and veterinary, legal services, and more.
"In just a couple of years, Wisetack has become the go-to leader in embedded financing for home services, partnering with vertical SaaS leaders such as Housecall Pro and Jobber, who offer consumer financing to their customer bases of tens of thousands of home services professionals," said Bobby Tzekin, CEO of Wisetack. "With this new influx of capital, we can continue to build the teams and resources necessary to expand faster into other service-based categories."
Buy-Now-Pay-Later (BNPL) has surged in popularity over the last few years. Wisetack differentiates itself from others by focusing on service-based businesses, seamless API integrations into business software, and a fast and easy consumer financing process, which brings the ease of BNPL to much larger transaction sizes when compared to e-commerce.
"Wisetack has a differentiated platform for embedded BNPL that is purpose-built to address use cases that are both more complex and less well-served than e-commerce," said Rebecca Liu-Doyle, Principal at Insight Partners. "The Wisetack value proposition is a true win-win-win—for partners, merchants, and consumers alike. With its exceptional product and experienced management team, it's clear that Wisetack is primed for continued rapid growth."
Wisetack embeds financing options into software platforms that thousands of businesses already use in their day-to-day operations through its suite of APIs. With Wisetack, in-person businesses can offer financing to consumers in minutes, while consumers can pay overtime for purchases without surprises or unexpected fees.