Shift secures USD 23.6 million in Series D funding round

According to Shift’s officials, the newly added capital is set to support the fintech in solidifying its position in the Australian market and further delivering its credit and payment solutions to businesses across the region. Shift plans to invest in its data models and platforms that offer optimised credit decisions and an improved customer experience for Australian businesses and the company’s network of commercial brokers.

Moreover, Shift underlined its intentions to continue to centre its efforts on expanding profitably and sustainably, while managing risk for its debt investors and providing a return for its shareholders. Regarding the funding, representatives from Peak XV Partners mentioned that, as business credit continues to be a large and underserved market, the company aims to support Shift in further offering underwriting models and customer-centric products. Also, the capital injection is set to allow Shift to support more Australian businesses by developing products and features that deliver increased value to a previously underserved segment of the market.

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