Splitit Goes Private, Motive Partners Acquires Controling Stake - Finovate

Splitit is officially moving away from public stock markets. The Buy Now, Pay Later (BNPL) provider has finalized its deal to go private following a significant investment from Motive Partners. For retailers, this is good news. It suggests a more stable future for the company. Splitit differentiates itself by using a customer’s existing credit card limit rather than issuing a new loan. This 'white-label' approach lets merchants keep their own branding front and center. The $50 million investment from Motive Partners provides Splitit with the capital needed to speed up product development. You can expect more features focused on embedding financing directly into your checkout flow. Going private removes the pressure of quarterly earnings reports. This allows Splitit to focus on long-term partnerships with merchants rather than short-term stock price movements. If you currently use Splitit or are considering a non-loan based BNPL option, this move secures their roadmap. It ensures they remain a viable competitor to bigger players like Affirm or Klarna, but with a unique model that doesn't require hard credit checks for your customers.

Source: Google News: Splitit

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