Wisetack has successfully raised significant funding over multiple rounds, establishing itself as a key player in consumer financing for real-life services. The platform offers transparent and straightforward payment options, making it easier for consumers to manage expenses over time.
Continue reading to delve into the details of Wisetack's funding journey and the investors who are supporting this innovative financing solution.
What Is Wisetack?
Wisetack, founded in 2020, is a technology platform that offers consumer financing solutions for real-life services. The company focuses on providing transparent, simple, and customer-friendly payment options.
Based in the United States, Wisetack integrates with business software to offer real-time consumer lending at the point of sale. This allows customers to pay over time without hidden fees or complicated paperwork.
While the exact number of employees and the names of the founders are not specified, Wisetack continues to grow and innovate in the consumer financing space.
How Much Funding Has Wisetack Raised?
- Seed Round
- Amount Raised: $4,000,000
- Date: 2019
- Lead Investors: Greylock
- Motivation: Initial funding to develop and scale the BNPL service for in-person business transactions.
- Series A Round
- Amount Raised: $15,000,000
- Date: 2019
- Lead Investors: Greylock
- Motivation: To further scale the business, expand partnerships with vertical SaaS providers, and increase loan volume and business adoption.
- Series B Round
- Amount Raised: $45,000,000
- Date: September 2021
- Lead Investors: Insight Partners
- Motivation: To expand into other service-based verticals such as auto repair, elective medical, dental, veterinary, and legal services, and to double its team over the next year.
Total Amount Raised: $64,000,000
Current Valuation: $200,000,000 (~estimated)
Key Investors
- Greylock Partners
- Details: Greylock Partners is a venture capital firm that has been investing in technology companies since 1965. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, focusing on seed to growth-stage investments. They have a diverse portfolio across various industries.
- Investment Focus Areas: Fintech, healthcare, enterprise software.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- Insight Partners
- Details: Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies. They have a significant presence in the tech investment space.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Shopify, Twitter, DocuSign.
What's Next for Wisetack?
Wisetack is poised to capitalize on the burgeoning market for in-person BNPL services, particularly in sectors like home improvement, auto repair, and elective medical services. With Americans spending over $400 billion annually on residential renovations and the automotive repair market projected to reach $250 billion by 2026, the opportunities are vast.
Given its rapid growth and significant market potential, Wisetack is likely to attract further investment. Future fundraising rounds could help the company expand its team and enhance its technology. However, challenges such as competition from established BNPL providers and potential regulatory scrutiny could pose hurdles along the way.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Wisetack and gather other critical business insights.
Sign up for free today and empower your sales strategy with the data you need to succeed.
