Globally, buy now and pay later is growing with many companies expanding into and out of different parts, including Africa, Latin America, and Asia. Affirm and Klarna are two major players in the U.S. and Square recently announced plans for Afterpay acquisition. Wisetack, a startup that offers in-person services and buys now, pays later, is called Wisetack. It just raised $45 Million in a Series A funding round, led by Insight Partners.
- Help: The startup, based in San Francisco, helps businesses to offer financing to customers. Wisetack isn’t the first company to do so, but Bobby Tzekin, co-founder, CEO, says that the startup embeds financing options in software platforms that businesses already have and are using.
- A pro-leader: “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.”
- Popularity: 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.
- New platform: “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.”
- Seamless: “Integrating Wisetack into our existing software was a quick and seamless process, and more importantly, has brought tremendous value to our customers.” said Laura Collinson, who heads Jobber’s Fintech business. “Wisetack has helped Jobber customers offer a better experience to homeowners, and become more competitive in the market. We’re proud to partner with Wisetack and together help small and medium-sized home service businesses be more successful.”