Advertisement

Installment Payment Provider Splitit Raises $8.6 million In IPO

Splitit, a monthly installment payment solution provider, has raised $8.6 million through its initial public offering, which valued the company at $38.7 million. Splitit provides retailers with software that lets shoppers split payments into interest- and fee-free monthly installments. The company had processed $67.3 million across 118,000 transactions by the end of Q4 2018.

The system can be implemented into online, mobile and in-store systems that work with both credit and debit cards. Splitit seeks to drive higher average order values and reduce cart abandonments by providing more flexible payment options, while maintaining a seamless checkout process.

Advertisement

Splitit will use the money from its IPO to strengthen its sales and marketing efforts and penetrate additional market verticals and countries. The solution provider also will develop new offerings, including next-generation mobile solutions and a mobile wallet.

“This is a significant milestone for Splitit, and we are honored that our investors have recognized our contribution to the industry as a leading global payment solution,” said Gil Don, CEO and Co-Founder of Splitit in a statement. “We will use the opportunity to further expand Splitit’s capabilities and reach, bringing frictionless payment flexibility to countless retailers across the globe. We will continue to demonstrate the value of interest-free payment technology solutions that help customers use their credit lines wisely while enabling them to afford their desired purchases and better manage their cash flow.”

In addition to completing its IPO, Splitit added five new directors to its board:

Featured Event

View the Retail Trendcaster Webinar Series on-demand to uncover key 2025 retail trends, from AI and personalization to social commerce. Gain expert insights, data-driven predictions, and actionable takeaways to stay ahead in a rapidly evolving market.

Advertisement

Advertisement

Retail Trendcaster Webinar Series
Days
Hours
Minutes
Seconds

Uncovering What’s Next in Retail

On-Demand Limited Video Series

Q1 is a pivotal time for retail, with experts analyzing holiday sales and forecasting trends. View the full lineup of the Retail Trendcaster video series for insights on consumer spending, AI, personalization, social commerce, and more—helping you focus on what truly matters in 2025.

Brought to you by
Retail TouchPoints
Access Now
Retail TouchPoints is a brand of Emerald X LLC. By clicking the button and submitting information, you acknowledge and agree that your information may be shared with corporate affiliates of Emerald X LLC, and other organizations such as event hosts, speakers, sponsors, and partners. Please read our Privacy Policy and our Terms Of Use for more information on our policies.

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: