Innovative payment plan provider and Australian fintech
Led by corporate advisory firm Henslow in partnership with wealth manager Escala Partners, Payright’s most recent debt and equity raise was oversubscribed and included professional, sophisticated and institutional investors.
What does this latest round of funding mean for the company?
Co-founder and joint CEO of Payright Myles Redward said the company has secured sophisticated funding to enable growth in the loan book and increase volume.
“We are grateful for the support received from our key strategic partners and investors who have all made a significant contribution to the emergence of Payright as a meaningful participant in the buy now pay later sector.
“Our team has expanded from three people to over 40, including a dedicated sales, technology and integration team, and operations and finance teams.”
Piers Redward, co-founder and joint CEO of
“With merchant awareness and consumer confidence in alternative payments at an all-time high,
“There is a clear growth in the buy now, pay later space in the addressable market – the opportunity is close to $300 billion in retail alone, and only a very small portion of this is currently being serviced by other players in the market.”
What prompted investors to offer more support to the fintech outfit?
Andrew Woodmore, Director at Henslow, said, ”The
Dr. George Nassios –
“The recent raising has been particularly well received with two institutions now on the register along with a number of Escala’s sophisticated client base.”
Paul Cowan, Executive Director at investment firm River Capital and
What exactly does
It provides merchants with access to a flexible buy now,
Merchants transactions are settled the same day, upfront and in full and
In its first three years of lending,