New York based consumer financing startup Zibby has raised $150m Series B led by Victory Park Capital. Zibby provides retailers with a risk-free payment option geared toward consumers who don’t qualify for traditional financing options.
The agreement comes on the heels of Zibby's hiring of Tony Lauro as CFO from Chase PaymentTech. Lauro, who most recently served as the CFO of JPMorgan Chase Commerce Solutions, has expertise across both the U.S. and Canada, as well as Europe. Lauro arrives at Zibby during a good time for the company. The startup doubled its origination volume in 2016 by helping retailers target roughly "65 million non-prime consumers." “Online retailers are a bit behind their B&M counterparts in terms of sophistication around customer financing options," said Zibby CEO Brandon Wright in a prepared statement on PeHub. "We’re excited to connect with leading online retailers at eTail and help them grow sales by offering a payment solution for the 65 million non-prime consumers who historically haven’t been able to shop online."