Sezzle is an alternative payment platform that increases sales and basket sizes by enabling interest-free installment plans at online stores.
Sezzle automates the remaining payments through whichever payment method you have on file, with text and email reminders before each payment is processed.
Sezzle was founded in 2016 by Charlie Youakim, Paul Paradis, & Killian Brackey and is based in Minneapolis, Minnesota.
Sezzle is ideal for merchants that cater to young consumers, with order values typically between $50-$750, although we do accept orders up to $1,000.
Sezzle collects 25% of the purchase price from the consumer at the time of purchase, but pays the merchant the full purchase price upfront, less their fee. The merchant assumes no credit or fraud risk. They then schedules three additional installments of 25% to be automatically debited from the consumer every two weeks, completely interest- and fee-free.
Sezzle increases consumers' purchasing power and is most heavily used by those without a credit card (63% of millennials do not own a credit card), or those with a very low credit limit on their card. As of February 2020, the Sezzle platform had over one million active users and surpassed 10,000 participating merchants.
Sezzle is backed by Bastion Capital Corporation, E-Merge, Daren Cotter, CSC Upshot and others. The company raised $86.3M in Post IPO on July 09, 2020. Sezzle filed for ASX IPO on Jul 30, 2019, where the company raised A$43.6M, with A$217M valuation at IPO.