News

Discover Financial to invest USD 30 mln in Sezzle

Friday 16 July 2021 13:23 CET | News

US-based Buy Now, Pay Later solution Sezzle has revealed that Discover Financial Services had made a USD 30 million investment in the company.

There were two core components to the Discover announcement beyond the USD 30 million investment, according to ig.com, first surrounding the fact that it was reportedly revealed that Sezzle and Discover were poised to enter into a partnership aimed at rolling-out a BNPL 'network solution on the Discover Global Network.' That partnership was subject to the completition of a yet-to-be finalised commercial agreement. Two, a referral programme with Discover was also announced, aimed at introducing Sezzle customers to Discover’s credit and debit products.

Looking at the specifics of Discover’s investment, some 4.5 million shares are set to be issued as part of Sezzle's existing placement capacity. The shares issued as part of the Discovery investment would rank equally to all other Sezzle shares. That stock is expected to be issued early next week.




More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, Discover, BNPL, card scheme, credit card
Categories: Payments & Commerce | Ecommerce
Countries: United States
This article is part of category

Payments & Commerce