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Katapult CEO: Lease-to-Own Plans Offer Non-Prime Alternative To BNPL

Buy now, pay later (BNPL) offerings have had a very big year, as consumers in the U.S. and around the world have embraced the alternative to traditional store-based credit with unexpected and unprecedented enthusiasm. But BNPL offers, as presented to customers, still have some limitations for certain consumers, most notably payment terms — dividing the whole purchase into three or four equal payments works better for certain types of...

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Ally Now Provides Financing On Sezzle's Platform

Ally Bank’s personal lending division, Ally Lending, has brought its financing services to retail payments platform Sezzle, according to a Tuesday (May 18) announcement. "People expect to be able to pay over time when they check out," Hans Zandhuis, head of Ally Lending, said in the announcement. "By blending our FinTech platform with the strong banking foundation of Ally Bank, we're now able to give people that...

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Mexican unicorn Kavak raises a $485M Series D at a $4B valuation.

Kavak, the Mexican startup that’s disrupted the used car market in Mexico and Argentina, today announced its Series D of $485 million, which now values the company at $4 billion. This round more than triples their previous valuation of $1.15 billion, which established them as a unicorn just a couple of months ago in October of 2020. Kavak is now one of the top five highest-valued startups in Latin America. The round was led by D1...

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BlueVine’s Allocca: SMB Growth Demands New Vision For Loan Underwriting

When small business lending FinTech BlueVine took the wraps off its bank offering last October, the solution emerged as a natural extension of the company’s existing offering. After all, lending and banking are intrinsically connected — in theory. In reality, however, various financial services have historically been siloed and disjointed for many SMB end users, according to Steve Allocca, who joined the company as COO earlier this...