BALTIMORE--(BUSINESS WIRE)--Blispay, making financing easy and accessible for merchants and shoppers, today announced $12 million in new equity. The funding will allow Blispay to continue the rapid growth of its merchant network and increase consumer adoption. Previous and current lead investors include FirstMark, Accomplice and NEA with new investors Camden Partners and F-Prime Capital joining this round. In addition, Vince Talbert, co-founder of Bill Me Later and partner at Camden Partners, is joining the company’s Board of Directors.
The company has added more than 500 merchants that can now offer the convenience of Blispay financing to shoppers. Using Blispay’s financing, shoppers made more than 100,000 transactions at 50,000 unique payment locations across the country. Merchants using Blispay are experiencing an astounding 75 percent increase in transaction value on average and in some cases up to 200 percent.
“We are offering real and immediate benefits to both merchants and consumers that promise to have a real economic impact on retail businesses,” said Greg Lisiewski, founder and CEO of Blispay. “For the first time, retailers of any size can offer financing to their customers across any channel and these shoppers can finance their purchases wherever they want to make a purchase. And the addition of Vince to the Board will help us expand our influence in the marketplace as we continue to innovate.”
Other milestones include:
- Adoption Across the Country – Blispay has enabled transactions at merchant locations in all 50 states.
Attracting High Value Shoppers – Blispay attracts coveted high
value shoppers that are more likely to be approved for credit and make
purchases at a retail location.
- Three-fourths of Blispay shoppers have used the offering for financing.
- More than two-thirds of Blispay shoppers use it for everyday spending.
The Benefits of Blispay for Merchants and Shoppers
Blispay’s merchant network is expanding nationwide in categories including apparel, sporting goods, home, garden, auto and more. With Blispay, merchants of any size can offer financing with no integration or additional costs. Providing shoppers with better buying options helps these retailers to increase sales and build customer loyalty.
Shoppers can easily apply for credit online or at a retailer offering Blispay. On all purchases over $199, approved shoppers will have no interest, no payments if paid in full in six months. The shopper will also receive the Blispay card in the mail and continue to enjoy no payments and no interest on all purchases over $199 if paid in full in six months, plus 2 percent cash back on all purchases everywhere Visa is accepted.
“Blispay is transforming how merchants offer financing and consumers make purchases,” said Vince Talbert. “The Blispay executive team has a history of transforming the credit industry. I am looking forward to serving as an advisor to the team and having a hand in changing the retail landscape for the better.”
Please visit here to learn more on how Blispay works and to experience the benefits.
Blispay makes financing easy and accessible for merchants and shoppers. The company provides point-of-sale financing with no integration and no additional costs to the merchant, ultimately helping businesses increase sales while providing consumers with better buying options everywhere they shop. Approved shoppers will additionally receive the Blispay credit card and continue to receive no interest, no payments on all purchases over $199 if paid in full in six months, plus automatic 2 percent cash back everywhere Visa is accepted. Located in Baltimore, Blispay’s team is comprised of credit pioneers who first innovated the financing industry and has a deep industry experience that spans banking, credit and retail. Follow us on Twitter and Facebook.