Total amount raised
$64 Millions
Latest funding date
2/1/2021
Location
Wisetack has successfully raised significant funding over multiple rounds, attracting a diverse group of investors including Trinity Capital and FJ Labs.
The platform offers consumer financing for real-life services, providing flexible payment options for both businesses and consumers. Keep reading to explore the intricacies of Wisetack's fundraising journey and the investors backing this innovative platform.
What Is Wisetack?
Wisetack, founded in 2018, is a financial technology company based in San Francisco, California. The company was established by Bobby Tzekin, Liz O'Donnell, Mykola Klymenko, and Richard Parks.
Wisetack offers consumer financing solutions for real-life services, enabling businesses to provide flexible payment options to their customers. Their platform integrates seamlessly with existing business software, allowing for quick and secure financing applications.
With a team of 101-250 employees, Wisetack continues to innovate in the fintech space, providing transparent and user-friendly payment solutions for both businesses and consumers.
How Much Funding Has Wisetack Raised?
- Seed Round
- Amount Raised: $4M
- Date: February 2019
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of their consumer financing platform.
- Series A
- Amount Raised: $15M
- Date: August 2019
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's integration capabilities.
- Series B
- Amount Raised: $45M
- Date: September 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new verticals such as auto repair and elective medical services.
- Venture Round
- Amount Raised: $20.4M
- Date: March 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance product offerings.
- Venture Round
- Amount Raised: $25M
- Date: January 2025
- Lead Investors: Trinity Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and innovation in the fintech space.
Total Amount Raised: $109.4M. Current Valuation: Not publicly disclosed.
Key Investors
- Trinity Capital
- Details: Trinity Capital is a venture capital firm that provides growth capital to high-growth, venture-backed companies. They are known for their flexible financing solutions tailored to meet the needs of rapidly scaling businesses.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Insight Partners
- Details: Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies. Founded in 1995, they have raised over $30 billion in capital commitments.
- Investment Focus Areas: High-growth technology, software, ScaleUp companies.
- Notable Investments: Shopify, Twitter, DocuSign.
- Greylock Partners
- Details: Greylock Partners is a venture capital firm that invests in early-stage companies in the consumer and enterprise software sectors. They have a long history of backing successful startups.
- Investment Focus Areas: Consumer software, enterprise software, technology.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- Bain Capital Ventures
- Details: Bain Capital Ventures invests in seed to growth-stage companies across a range of industries, including technology, healthcare, and financial services. They are part of the larger Bain Capital family.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- FJ Labs
- Details: FJ Labs is a venture capital firm that invests in early-stage and growth-stage companies, particularly in the technology sector. They are known for their extensive network and hands-on approach.
- Investment Focus Areas: Technology, marketplaces, consumer internet.
- Notable Investments: Not publicly disclosed.
What's Next for Wisetack?
Wisetack is poised to capitalize on significant opportunities in the "buy now, pay later" market, particularly in sectors like auto repair, elective medical, dental, veterinary, and legal services. With Americans spending over $400 billion annually on residential renovations and repairs, and the U.S. automotive repair market projected to reach $250 billion by 2026, the potential for growth is substantial.
Future fundraising efforts are likely as Wisetack continues to expand its market reach and enhance its technology. However, the company may face challenges such as competition from other BNPL providers, regulatory hurdles, and the complexities of integrating their services into various business software platforms.
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