Fintech Startup Wisetack Raises $45 mln In Series B Funding

Wisetack, a fintech startup based in San Francisco, has raised $45 million in Series B funding to expand its pay-later services.

The round was led by New York-based Insight Partners, counting with participation from existing investors like Greylock Partners and Bain Capital Ventures. With this round, the startup has raised a total of $64 million since its founding in 2018, allowing it to become a major player in the industry. Rebecca Liu-Doyle, Principal at Insight Partners., referred to the round by stating:

“Wisetack has a differentiated platform for embedded BNPL that is purpose-built to address use cases that are both more complex and less well-served than e-commerce. The Wisetack value proposition is a true win-win-win—for partners, merchants, and consumers alike. With its exceptional product and experienced management team, it’s clear that Wisetack is primed for continued rapid growth.”

Wisetak has developed “buy-now-pay-later” solutions designed to provide consumers with more flexibility when it comes to paying for in-person services in the home and auto repair industries. Now, the startup will focus its efforts on using the funding to accelerate the growth it has experienced over the past years, as well as supporting further expansion into new verticals like legal, dental care, and auto repair services.

The Buy-Now-Pay-Later platform has seen major adoption from users over the past years as a result not only of the benefits it brings to its users but also of how developers can use API to integrate the service with their existing systems. Bobby Tzekin, CEO of Wisetack, referred to the startup’s success by stating:

“In just a couple of years, Wisetack has become the go-to leader in embedded financing for home services, partnering with vertical SaaS leaders such as Housecall Pro and Jobber, who offer consumer financing to their customer bases of tens of thousands of home services professionals. With this new influx of capital, we can continue to build the teams and resources necessary to expand faster into other service-based categories.”

With American consumers spending more than $400 billion per year in home renovations and repairs, Wisetack is aiming to capitalize on the increasing demand for flexible payment options to better organize their finances.