Bread, a marketing technology company that builds customizable financing solutions for retailers and brands, has completed a $60 million round of equity financing. The company, which first closed $126 million of equity and debt financing in August 2017, offers a white label financing platform designed to help retailers reach more consumers seeking to pay in monthly installments.
The company will use the capital to extend Bread’s omnichannel capabilities, expand into new verticals and strategic opportunities, and offer more cross-channel marketing strategies designed to help the retailer improve conversions and customer lifetime value (LTV).
This funding comes at a time of company growth; Bread is on track to boost annual revenue more than 5X in 2018, according to a company statement. Bread also unveiled two of its newest clients, adding door designer Semihandmade and jewelry seller Noémie to the list of retailers using its platform.
The round is led by Kinnevik and includes additional investment from Bread’s existing investors Bessemer Venture Partners, Menlo Ventures, RRE Ventures, Colle Capital Partners, and Cue Ball.