Splitit

Interest-free Installment Payment Solutions

Fintech & Insurtech
Public on ASX on Jan, 2019

Company Overview

Snapshot

Founded in January 2012 by Gil Don and Alon Feit, Splitit operates with 51–200 employees. The company has raised a total of $105.1 million across six funding rounds from four investors. In December 2023, Motive Partners acquired a control stake in Splitit, signaling a significant strategic shift for the company.

Business overview

Splitit provides a global payment solution that enables consumers to pay for purchases by splitting the cost into interest-free monthly payments using their existing debit or credit cards, without requiring additional registrations or applications. This fintech solution benefits consumers by offering flexible payment options and helps online retailers increase sales and customer conversion by reducing cart abandonment. Serving numerous Internet Retailers top 500 merchants, Splitit's footprint extends across more than 300 merchants in 25 countries, with its technology patent-protected in the United States. The company operates within the Fintech & Insurtech sector, focusing on money transfer and management, and leverages platforms, APIs, and artificial intelligence to serve financial services, consumers, and commerce & retail markets globally.

Strategic signal

In December 2023, Motive Partners acquired a control stake in Splitit. This acquisition represents a strong validation of Splitit's Installment-as-a-Service model and signals a new phase of growth and strategic direction for the company, likely involving accelerated expansion and deeper integration into the fintech ecosystem under new ownership.

Company Intelligence Q&A

What was a significant recent strategic development for Splitit?
In December 2023, Motive Partners acquired a control stake in Splitit, indicating a major strategic shift and new ownership for the company.
When did Splitit go public and on which exchange?
Splitit went public on the ASX in January 2019, raising A$8.6 million in its Initial Public Offering.
What was a key partnership announced by Splitit in early 2023?
In January 2023, Splitit and Alipay formed a partnership to power 'Pay After Delivery' installments for shoppers on AliExpress.
What recognition did Splitit receive in November 2023?
In November 2023, Splitit was named one of the Fastest-Growing Companies in North America on the Deloitte Technology Fast 500™ for the third consecutive year.
What was a notable funding event for Splitit in 2020?
In August 2020, Splitit raised $71.5 million to accelerate growth, with Woodson Capital Management participating in the round.

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