QuadPay secures revolving line of credit of up to USD 200 mln from Goldman Sachs, Oaktree Capital

Monday 28 September 2020 13:54 CET | News

US-based instalment payment platform QuadPay has secured a revolving line of credit of up to USD 200 million from Goldman Sachs, with mezzanine financing provided by Oaktree Capital.

According to the press release, QuadPay will use the credit facility to expand its Buy Now, Pay Later (BNPL) business to new merchants throughout the US. QuadPay secured its credit facility from Goldman Sachs and Oaktree with advisory from Finitive, leveraging their direct lending platform. The facility was structured in a special purpose vehicle (SPV) secured by QuadPay’s existing instalment receivables portfolio.

Furthermore, QuadPay provides consumers with a simple, transparent, and financially responsible alternative to traditional credit, enabling more than 1.8 million customers to pay in four interest-free instalments over six weeks. The company's app, enables integration for merchants and the ability for customers to shop online and in-store interest-free, not just with QuadPay's 4,700 integrated merchants, but with global retailers too. 

Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. 

Moreover, Finitive’s originator partners gain efficient access to a global network of investors who are actively allocating to alternative lending. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. 

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Keywords: Quadpay, instalment payments, US, instalment payment platform, revolving line of credit, Goldman Sachs, Oaktree Capital, Buy Now, pay later, BNPL, merchants, Finitive
Categories: Payments & Commerce
Countries: United States
This article is part of category

Payments & Commerce