Austin based retail POS lender Vyze raised $13m of Series B financing, led by Austin Ventures and StarVest Partners. Total capital raised is now $35m as the company tries to help retailers unlock the full spectrum of their business by providing fiancing consumers need to make purchases.
"The retail consumer financing market is over $200B in size but is in need of an upgrade. Despite the market size, retailers and manufacturers cannot serve their customers adequately with today's lending options," explained Nealon. "With 73 percent of sales associates reticent to offer financing, 28 percent of all consumers afraid to apply for financing, and just 47 percent of consumers approved for financing, there's tremendous opportunity to deliver more value to our customers."