Financial institutions

Fintech startup equipifi raises $12M to power financial institutions with Buy Now, Pay Later

“Consumers rely on their primary financial institution to know them and their financial goals. This is why, even though BNPL has seen rapid adoption through third-party lenders, the majority of consumers are still turning to their trusted financial institutions for a better option,” said Bryce Deney, co-founder and CEO of equipifi. “equipifi enables banks and credit unions to take their customers shopping, giving them a single place to view, accept and manage their BNPL plans on their existing online banking app.”

“BNPL’s solutions offer credit unions a unique opportunity to retain their members and attract a younger population,” says Nick Evens, President and CEO of Curql Collective. “The equipifi team, with its foundation in credit unions and the banking ecosystem, not only understands our needs, but also understands how to serve and scale in our space, which makes their white label solutions especially exciting.”

According to a Worldpay report, BNPL represented $97 billion of global e-commerce transactions in 2020 and is expected to double to 4.2% by 2024. eMarketer also notes that the number of US BNPL users will skyrocket from 1.6 million in 2018 to 59.3 million in 2022driven by innovations in terms of access to credit and purchasing flexibility.

“Consumer shopping and payment expectations are changing, and it is time for financial institutions to lead the way in providing BNPL solutions tailored to these needs,” said Gregg Scoreby, founder and managing partner of PHX Ventures. “equipifi will be the next high-growth fintech SaaS company built in Arizona that is redefining retail financing and how banks and credit unions serve the next generation of consumers. »

About equipment
equip is a SaaS fintech that powers banks and credit unions with Buy Now, Pay Later (BNPL) solutions that align with their customers’ financial goals. The equipifi platform seamlessly integrates with financial institutions to help them deepen customer engagement, grow market share, increase revenue, and provide a single place to view, accept, and manage plans. BNPL on their existing banking application.

Equipifi’s investors include Curql Collective, PHX Ventures, SixThirty Ventures, Rise of the Rest, Newstack Ventures, SaaS Ventures, Baleon Capital and several notable angel investors including Hamid Shojaee and CEO of Atomic Jordan Wright. For more information, please visit www.equipifi.com.

About Curql Collective
Curql Collective is a collaborative approach that brings together private equity, credit unions and fintech. Launched in 2020, Curql is led by a collective of forward-thinking credit unions, including former founders, operators and leaders in fintech and investment. The group’s flagship product – Curql Fund I – invests in the visions of entrepreneurs who thoughtfully and purposefully develop financial services technology that revolutionizes and innovates the way people interact with their money. For more information, please visit www.curql.com.

About PHX Ventures
PHX Ventures invests in ArizonaB2B SaaS start-ups. Our permanent fund supports ambitious entrepreneurs who seek to create healthy, high-growth and sustainable businesses that transform and improve the industries and communities they serve. We use our real-world operational experience and extensive network to support human-centered founders who are fully engaged in building the business.

SOURCE Equipment