With this latest fundraise, Skeps will increase our ability to serve clients by providing them the next generation in POS financing solutions that can be readily deployed on their own merchant site, physical stores, or any partner platform where their customers are shopping,” said Tushar Srivastava, CEO of Skeps. “We are excited to welcome Bertelsmann India Investments to the Skeps family for this latest round. Read More: SalesTechStar Interview With Rob Rosenthal, Chief Revenue Officer at Bloomreach Skeps has sourced and enabled its lenders to evaluate over one billion dollars’ worth of loan applications over the last eighteen months. Skeps’ patented technology simultaneously evaluates multiple financing options and provides credit at the start of the shopping experience, which drives conversions, while minimizing declines.
Banks can use Skeps as their answer to branded BNPL platforms or grow their unsecured lending portfolio. Merchants can offer financing options ranging from Pay-in-4 to longer-term loans with one simple integration. Skeps’ platform provides a suite of technology solutions for both merchants and lenders. Read More: Archer Announces Revolutionary Data-Powered Underwriting Tool For Multifamily Investors
The company intends to use the funds to expand the sales, marketing, engineering, and product teams, grow their merchant and lender client base, and broaden services offered to their customers.
Existing investor Accel also participated in this round.
Skeps, a global Point-Of-Sale (POS) financial technology company today announced the close of Series A funding of $9.5 million, led by Bertelsmann India Investments. Skeps’ technology has been helping merchants and lenders offer credit solutions for their customers with the highest likelihood of conversion for over three years