Buy now, pay later (BNPL) finance platform Sezzle is partnering with Genesis Credit and Oportun to expand Sezzle’s long-term finance product. The move complements Sezzle’s recent collaborations with Ally Lending and Bread/ADS.
Sezzle plans to leverage the decades of expertise from its partners and extend high-ticket financing to more shoppers, which is an “inclusive expansion to Sezzle’s long term financing product,” according to a press release on Wednesday (Jan. 19).
The new long-term financing options are intended to offer shoppers a user-friendly option for higher-ticket items that offer complete transparency. The expanded selection of products is meant to provide shoppers with more advantages on their journey to financial empowerment, per the release.
Genesis Credit President Mark Denman said the company is looking forward to introducing a new finance product with a “premier provider in the BNPL arena like Sezzle” that enables people to finance bigger ticket merchandise.
“Our combined efforts provide enhanced flexibility for the consumer, which ultimately leads to more purchases for our retail partners,” Denman said.
With Genesis and Oportun, customers will have expanded payment options while merchants have the opportunity to offer shoppers more ways to affordably pay.
“Both Sezzle and Oportun are mission-driven companies and we are proud to partner with them and expand our Lending-as-a-Service capabilities to help even more consumers to responsibly and affordably finance their larger purchases,” said Matt Jenkins, chief operating officer of Oportun.
Founded in 2016 and headquartered in Minneapolis, Minnesota, Sezzle is a technology-driven payments firm specializing in BNPL and is on a “mission to financially empower the next generation.” The startup offers a full suite of product offerings including “Pay in 4” and long-term options.